WASHINGTON (dpa-AFX) - Gold prices held steady on Monday while the dollar edged higher ahead of key inflation readings due later in the week.
Spot gold was little changed at $2,496.95 per ounce while U.S. gold futures were up 0.1 percent at $2,526.80.
This week's trading is likely to be driven by reaction to closely watched U.S. reports on consumer and producer price inflation for August and the University of Michigan's consumer survey.
The U.S. Labour Department will release the consumer price index early Wednesday and the producer price index before Thursday's open. Tame readings could give policymakers ammo for making a 50-bps rate cut on Sept. 18.
Responding to Friday's weak jobs data, U.S. Treasury Secretary Janet Yellen said that the U.S. economy remains strong and that recent months of cooler jobs data is a signal of a soft landing, not a recession.
In another development, Republican presidential nominee Donald Trump has announced a plan to impose a 100 percent tariff on goods from countries that move away from using the U.S. dollar in international trade.
Tuesday will see Democrat Kamala Harris and Trump debate for the first time ahead of the presidential election on Nov. 5.
Elsewhere in Europe, the governing council of the European Central Bank will meet on Thursday and it its widely expected that the board will reduce interest rates for the second time this year.
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