Ammon News - Gold held firm near an all-time high on Monday, inching closer to a key $3,600 level, bolstered by mounting expectations of a U.S. Federal Reserve rate cut this month following a weaker-than-expected jobs report last week.

Spot gold was little changed at $3,583.41 per ounce, as of 0454 GMT. Bullion rose to a record high of $3,599.89 on Friday.

"The main driver is U.S. jobs data and the expectations now that the Fed could cut by 50 basis points in September. It's a marginal chance but a material shift from before the jobs figures," Capital.com financial market analyst Kyle Rodda said.

Traders have fully priced in a 25-bp cut this month, with an 8% chance of a jumbo 50-bp rate cut, according to the CME FedWatch tool.

Elsewhere, spot silver fell 1% to $40.57 per ounce. Platinum rose 0.2% to $1,375.33, and palladium was flat at $1,109.50.

Reuters