Ammon News - Gold prices remained steady on Monday as investors awaited a widely expected rate cut by the U.S. Federal Reserve this week, while profit-taking and a firmer dollar kept gains in check.

Spot gold held its ground at $3,642.65 per ounce, as of 0606 GMT. Bullion climbed about 1.6% last week, reaching a record high of $3,673.95 on Tuesday.

U.S. gold futures for December delivery were down 0.2% at $3,680.20.

The U.S. dollar index edged 0.1% higher, making greenback-priced bullion more expensive for overseas buyers.

U.S. inflation data for August came in slightly above expectations on Thursday, but investors anticipate this will not deter the Fed from cutting rates by a quarter-percentage-point on Wednesday.

Elsewhere, spot silver was up 0.1% at $42.20 per ounce, platinum gained 0.5% to $1,397.59 and palladium rose 0.2% to $1,197.88.

Reuters