FX.co ★ Gold Prices Ease On Stronger Dollar Ahead Of US Manufacturing Data

Gold prices dipped on Monday as the dollar rebounded amid rate hike expectations and ahead of the release of U.S. manufacturing PMI data out later in the day.

Spot gold slipped 0.3 percent to $1,913.42 per ounce, while U.S. gold futures were down 0.4 percent at $1,920.85.

A firmer dollar dented the safe-haven metal's appeal ahead of U.S. ISM manufacturing PMI for June and U.S. construction spending data for May set to be published later in the session.

Investors also await minutes of the latest Federal Reserve meeting and U.S. non-farm payrolls data due later this week for further clues on the Federal Reserve's interest rate path.

Atlanta Fed Bank President Raphael Bostic said last week that the U.S. central bank has reached to a point where interest rates are sufficiently restrictive to bring down inflation to 2 percent.

Separately, U.S. Treasury Secretary Janet Yellen said on Friday that the U.S. economy is proving more resilient than thought and inflation can slow down without a slump in employment.