Ammon News - Gold prices fell on Monday for a second consecutive session as investors awaited U.S. economic data and comments from Federal Reserve officials this week for more clarity on the future direction of U.S. interest rates.

Spot gold dropped 0.5% to $2,670.37 per ounce, as of 0736 GMT. U.S. gold futures fell 0.7% to $2,677.

The dollar index was a fraction firmer, after gaining 0.6% last week mainly against the euro. A stronger dollar makes gold less appealing for other currency holders.

Gold prices registered their worst week in more than five months on Friday as Donald Trump's victory in the U.S. presidential election has raised the prospect of higher tariffs, which could keep interest rates elevated.

Traders see a 65% chance of another 25-basis-point Fed rate cut in December and a 35% chance of no change, according to the CME Fedwatch tool.

Spot silver fell 0.3% to $31.21 per ounce, platinum rose 1.1% to $979.44, and palladium climbed 0.5% to $994.32.

Reuters