• Gold recouped some of the previous session's hefty losses on Monday as the U.S. dollar steadied and uncertainty over a U.S. tax reform plan stoked risk aversion, pulling equities from their recent record highs.
Prices remained stuck in a narrow range, however, as investors awaited more clues on the path of U.S. interest rates.
• Spot gold was up 0.2 percent at $1,279 an ounce by 1:41 p.m. EST (1841 GMT), while U.S. gold futures for December delivery settled up $4.70, or 0.4percent, at $1,278.90 per ounce.
• "The downside risk may be outweighing upside risk, particularly if the U.S. legislators cannot deliver the often talked about and promised tax cuts," said Bart Melek, head of commodity strategy at TD Securities in Toronto.
• "There is a bit of safe-haven demand still supporting prices, but no new additional demand coming in, which means that prices aren't really moving," Capital Economics analyst Simona Gambarini said.
"I think some movement will come closer to the next Federal Reserve meeting in December," she added. "Most markets expect a rate hike ... that could be what prompts prices higher or lower, depending on what happens."
• Among other precious metals, silver was up 0.9percent at $17.05 an ounce.
Reference: Reuters, Bloomberg
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