Gold futures settled flat on Monday after prices moved in a very tight band right through the day's session, even as the dollar turned in a weak performance with investors assessing the outlook for interest rates.
The dollar index, which dropped to 104.16 recovered to 104.30, but was still down, trailing its previous close by more than 0.2%.
The dollar eased as investors awaited congressional testimony Tuesday and Wednesday from Fed chair Jerome Powell for fresh insights on whether cooling inflation would get the Fed to take it easier on its hikes to interest rates.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.