Gold slips as dollar firms, investors book profit; US data on tap
Spot gold was down 0.7 per cent at US$3,373.37 per ounce, as at 9.37 am, after hitting its highest since Jul 23 on Friday.
US gold futures for December delivery dropped 1.5 per cent to US$3,439.10.
The US dollar edged 0.1 per cent higher against its rivals, making gold more expensive for other currency holders.
Focus this week will be on US consumer prices due on Tuesday, with analysts expecting the impact of tariffs to help nudge the core up 0.3 per cent to an annual pace of 3 per cent and away from the Federal Reserve target of 2 per cent.
Also on the radar are trade discussions as US President Donald Trump's Aug 12 deadline for a deal between Washington and Beijing loomed.
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Trump said on Friday that he will meet Russian President Vladimir Putin on Aug 15 in Alaska to negotiate an end to the war in Ukraine.
On Friday, the White House said that it plans to clarify what its official called misinformation about import tariffs for gold bars amid uncertainty, which saw some industry players pausing deliveries of bullion to the United States.
Physical gold demand in key Asian hubs slipped last week as a rise in prices weighed on buying interest, while higher rates encouraged some to cash in on their holdings.
Major share indexes crept higher in Asia on Monday as upbeat company earnings underpinned high valuations in the tech sector.
Elsewhere, spot silver fell 0.3 per cent to US$38.21 per ounce, platinum slipped 1.2 per cent to US$1,315.80 and palladium lost 1 per cent to US$1,114.50. REUTERS
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