Gold prices held steady on Monday, buoyed by a softer dollar, as investors awaited for more cues on the US Federal Reserve's monetary policy tightening amid signs of cooling inflation, reports Reuters.
Spot gold was little changed at $1,953.09 per ounce at 1236 GMT. US gold futures fell 0.4 per cent to $1,956.60.
The dollar hovered close to a more than one-year low against its rivals, making gold less expensive for other currency holders.
Gold bugs are curbing their enthusiasm for an "imminent end to Fed rate hikes, with markets cautious that US consumers may still harbour enough spending power to reignite the US inflationary pulse", Exinity Chief Market Analyst Han Tan said.
Last week's US data hinted at a disinflationary trend as consumer prices grew at their slowest pace in more than two years.
Investors largely expect the Fed to hike rates in the July 25-26 meeting, likely stopping there before cuts next year.
"(And) if the Fed does signal that the July hike would mark the ultimate peak for this rate-hiking cycle, that may provide renewed impetus for bullion bulls to chase after $2,000 once more," Tan added.
Bullion posted its biggest weekly gain since April last week on bets that the Fed could pause rate hikes after July.
Spot silver fell 0.5 per cent to $24.79 per ounce, platinum lost 0.4 per cent to $967.34, and palladium eased 0.2 per cent to $1,269.07.
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