FUNDAMENTALS
* Spot gold rose 0.2% to $2,327.11 an ounce by 0034 GMT. U.S. gold futures firmed 0.2% to $2,336.20.
* Traders give a 64% chance of a Fed rate cut in September, according to CME’s FedWatch tool. Lower rates increase the attractiveness of holding bullion without yield.
* Data released Friday showed U.S. job growth slowed more than expected in April, while annual wage growth fell below 4.0% for the first time in nearly three years.
* New York Fed President John Williams said Monday that at an unspecified time the U.S. central bank would lower its interest rate target. * Investors have closely followed the latest developments in the conflict in the Middle East. Palestinian militant group Hamas accepted a Gaza ceasefire proposal from mediators on Monday, but Israel said the conditions did not meet its demands and continued its strikes in Rafah while planning to continue negotiations on a deal. * SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings rose 0.21% to 832.19 tonnes on Monday from 830.47 tonnes on Friday. * Spot silver fell 0.1% to $27.44 an ounce, platinum gained 0.5% to $958.90 and palladium rose 0.4% to $981.34 .
* A private sector survey showed on Monday that the expansion of services activity in China slowed slightly, but growth in new orders accelerated and business confidence solidly improved.
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