Gold prices rose on Monday as the dollar softened, while investors awaited economic readings that could determine the pace of the US Federal Reserve's interest rate hikes, reports Reuters.
Spot gold was up 0.2 per cent to $1,768.69 per ounce by 1236 GMT, while US gold futures gained 0.5 per cent to $1,790.10.
The dollar index slipped 0.3 per cent, making gold less expensive for overseas investors.
The softer dollar should make it easier for gold to register more gains, said Han Tan, chief market analyst at Exinity.
Gold rose 2.2 per cent last week in its best performance since March after Federal Reserve Chair Jerome Powell struck a relatively less hawkish tone following an expected 75-basis-point rate hike.
"(However) bullion bulls are waiting to see if the coast is clear for another leg up, making sure expectations for a less-aggressive Fed are indeed rooted in reality," Tan said. "Like the Fed, gold's next move may be data dependent."
Safe-haven gold has also found some support from recent weak economic data, including an unexpected contraction in the US economy over the second quarter, and slower euro zone manufacturing activity.
Gold "could benefit from safe-haven flows if countries are thrown into recession and central banks are left to choose between hitting inflation targets or the economy," said Craig Erlam, senior market analyst at OANDA.
The monthly US jobs report on Friday will also be closely scanned for its likely influence on the Fed's rate hike plans.
Elsewhere, spot silver rose 0.4 per cent to $20.41 per ounce.
