FX.co ★ Gold Little Changed Ahead Of Busy Week Of Economic Data, Earnings

Gold prices were flat to slightly higher on Monday as the dollar index fell after surging overnight.

Spot gold was virtually unchanged at $1,983.81 per ounce, while U.S. gold futures were up 0.2 percent at $1,994.45.

The dollar index was slightly lower as investors await policy announcements by the U.S. Fed and Bank of England in early May for clarity on their rate-hike strategies.

Fed Governor Lisa Cook said on Friday that U.S. inflation remains elevated and broad-based but the outlook for the next stage of monetary policy is less clear.

ECB President Christine Lagarde said last week that Eurozone inflation is too high and the monetary policy "still has a bit of way to go" to bring back inflation towards the central bank's 2 percent goal.

The Fed is expected to deliver a final 25-basis-point (bps) interest rate increase in May and then hold rates steady.

The ECB's next move on May 4 could be either a 25 or 50-bps hike. The Bank of England is seen raising rates to 4.5 percent on May 11.

The Bank of Japan's policy meeting this week marks the first meeting to be chaired by new BOJ Governor Kazuo Ueda.

On the earnings front, Coca-Cola, 3M, General Electric, McDonald's, Alphabet, Amazon, Intel and Exxon Mobil are among the prominent U.S. companies due to report their quarterly earnings results this week.

In economic releases, traders await a reading on U.S. first-quarter GDP along with the Fed's favored measure of inflation this week for further clues on the health of the world's largest economy.