WASHINGTON (dpa-AFX) - Gold futures settled slightly up on Monday, gaining for a third straight session. Gold's upside was limited as Israel avoided attacking Iran's oil facilities.
A subdued dollar supported the yellow metal. The dollar index, which was up at 104.57 in the Asian session, dropped to 104.12 in early New York session, and was roughly flat at 104.27 about an hour past noon.
Investors await key U.S. inflation, GDP and labor market data due later in the week. The Federal Reserve, which is scheduled to announce its monetary policy next week, is widely expected to lower rates by a quarter point. However, CME Group's FedWatch Tool currently indicates a 24% chance the central bank will leave interest rates unchanged in December.
Gold futures for October closed up $2.00 or 0.07% at $2,742.90 an ounce.
Silver futures for October settled at $33.830 an ounce, gaining $0.227 or about 0.68%. Copper futures for October dropped to 4.3305, losing $0.0090 or 0.21%.
Israel's retaliatory attack on Iran over the weekend avoided oil and nuclear facilities, and Tehran signaled a measured response, helping ease concerns over a potential war in the Middle East.
Also, Egypt has proposed a two-day truce in Gaza aimed at securing 'a complete ceasefire' after more than a year of war between Israel and Hamas.
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