Gold prices were steady on Monday as investors looked to a key US jobs data to firm their bets on the size of the Federal Reserve’s interest rate cut expected this month.

Spot gold was last at $2,502.89 per ounce, while US gold futures inched up 0.3% to $2,535 per ounce.

Spot gold fell 1% in the previous session after data showed that US consumer spending increased solidly in July, arguing against a half-percentage-point rate cut.

Spot silver rose 0.2% to $28.89 per ounce, platinum was nearly steady at $926.80, and palladium was up 0.3% to $968.18 per ounce.

Source: Qatar News Agency