FX.co ★ Gold Stuck In Tight Range On Rate Hike Worries

Gold prices were flat to slightly higher on Monday after Friday's U.S. jobs data helped ease recession fears but intensified expectations for a more aggressive tightening of monetary policy by the Federal Reserve.

Spot gold edged up 0.1 percent to $1,776.86 per ounce, while U.S. gold futures were marginally higher at $1,792.85.

After U.S. job growth unexpectedly accelerated in July, markets are now assigning a greater possibility of the Fed raising its policy rate by another 75 basis points at its meeting in September.

The focus now shifts to the U.S. consumer price index report due on Wednesday that could give further clues about the health of the world's largest economy.

The dollar eased slightly today after Friday's strong rally on the back of robust jobs data.