Gold eases as dollar firms, investors seek more cues on Fed's rate path
July 15 (Reuters) -Gold prices inched down on Monday as the dollar held firm, while investors looked towards comments from Federal Reserve officials and economic data for further cues on U.S. interest rate path.
FUNDAMENTALS
* Spot gold XAU= was down 0.2% at $2,407.29 per ounce, as of 0049 GMT. U.S. gold futures GCcv1 fell 0.4% at $2,411.20.
* U.S. bond futures slipped and the dollar firmed as investors wagered the attack on U.S. presidential candidate Donald Trump made his victory more likely, while injecting a whole new level of political uncertainty into markets. MKTS/GLOB USD/
* A stronger dollar makes greenback-priced gold more expensive for buyers holding other currencies.
* Fed Chair Jerome Powell is due to speak later in the day and a few other officials later in the week. Data sets due this week include U.S. retail sales, industrial output for June and weekly jobless claims.
* U.S. consumer prices fell for the first time in four years in June, making it more likely the U.S. central bank will cut interest rates in September. FEDWATCH
* Non-yielding bullion's appeal tends to shine in a low interest rate environment.
* Physical gold demand in Asian hotspots slouched last week as elevated prices made buyers hold off on purchases, with dealers in India offering the biggest discounts in nearly 3-1/2 months to entice consumers. GOL/AS
* Spot silver XAG= fell 0.5% to $30.62 per ounce, platinum XPT= slipped 0.3% at $995.35 and palladium XPD= dropped 1.3% to $956.81.
DATA/EVENTS (GMT)
0200 China Urban Investment (YTD) YY June
0200 China Retail Sales YY June
0200 China GDP YY Q2
0200 China Unemp Rate Urban Area June
0900 EU Industrial Production MM, YY May
1000 EU Reserve Assets Total June
n/a UK Housing Price Rightmove MM, YY July
Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Rashmi Aich
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