Gold prices were flat on Monday after
declining in the previous session, as an elevated dollar
continued to make greenback-priced bullion less attractive for
*Spot gold was little changed at $1,839.79 per ounce
as of 0056 GMT, with the dollar index hovering near its
highest levels in about two decades. US gold futures
were flat at $1,840.30.
* Asian shares were trying to sustain a rare rally, as Wall
Street futures made early gains, perhaps hoping a US holiday
would provide a break from recent selling, though worries about
global recessions were never far away.
* Federal government offices, the Federal Reserve System,
stock and bond markets in the US will be closed on Monday for
the Juneteenth holiday.
* Gold prices finished the previous week lower, falling 1%
on Friday, as a stronger dollar and interest rate hikes from
major central banks dented the appeal of bullion, which yields
* Production at US factories unexpectedly fell in May, the
latest sign of cooling economic activity as the Federal Reserve
Aggressively tightens monetary policy to tame inflation.
* European Central Bank policymaker Klaas Knot said on
Friday the ECB may need to make several 50 basis point rate
hikes if inflation continues to rise and that he expected about
200 basis points of hikes.
* About 90% of traders and analysts in a Reuters survey
expected China to keep benchmark interest rates unchanged at its
monthly fixing on Monday, as global central bank tightening
limited room for policy maneuver to arrest economic slowdown.
* SPDR Gold Trust , the world’s largest gold-backed
exchange-traded fund, said its holdings rose 1.1% to 1,075.54
tonnes on Friday from 1,063.94 tonnes on Thursday.
* Spot silver firmed 0.1% to $21.68 per ounce,
platinum gained 0.2% to $934.34, and palladium
rose 1.8% to $1,847.36.
(Reporting by Bharat Govind Gautam in Bengaluru; Editing by