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· Gold prices were trapped in a tight range on Monday as investors remained wary over mixed signals from U.S. Federal Reserve officials on monetary policy tightening despite weaker-than-expected inflation data.

· Spot gold was up 0.2% at $1,783.16 per ounce by 0624 GMT, after hitting its lowest since June 21 at $1,770.36 earlier in the session. U.S. gold futures gained 0.3% to $1,783.60.

· “There’s really indecision in the gold market... the jury’s still out (on the Fed’s timeline on tapering),” said IG Market analyst Kyle Rodda.

· “On one hand, we’ve to think about normalising policy, but on the other, a lot of Fed speakers are suggesting inflation will be transitory, so we don’t need the Fed to slam on the brakes. And, that is kind of sending mixed signals.”

· Gold prices rose as much as 0.8% on Friday after data showed the U.S. personal consumption expenditures price index, the Fed’s preferred inflation measure, came in below expectations.

· Minneapolis Fed President Neel Kashkari said he expected recent high inflation readings would not last.

· Limiting gold’s advance, the dollar index rose 0.1% against six other major currencies.

· “Reality is the Federal Reserve’s policy tapering is still a distant event, meaning markets can get back into party mode in the short term,” said Michael Langford, director at corporate advisory AirGuide.

Gold prices will consolidate in the short term, with the short-term target at $1,790 an ounce, Langford added.

· Investors were also keeping a close watch on the negotiations over an U.S. infrastructure deal.

· Gold is often considered a hedge against potential inflation that is likely to result from widespread stimulus.

· Copper eases as dollar firms on U.S. inflation fears

Copper prices fell on Monday and were set for a third straight daily drop in London, as the dollar strengthened on investor concerns over inflation in the United States that could lead to sooner-than-expected policy tightening.

Three-month copper on the London Metal Exchange was down 0.3% at $9,383.50 a tonne, as of 0528 GMT, while the most-traded August copper contract on the Shanghai Futures Exchange ended the morning session down 0.7% at 68,440 yuan ($10,591) a tonne.

· Among other precious metals, silver rose 0.3% to $26.14 per ounce, palladium gained 0.6% to $2,651.68. Platinum added 0.1% to $1,111.83.

· Fed's Rosengren says U.S. can't afford housing market 'boom and bust' - FT

The United States cannot afford a "boom and bust cycle" in the housing market that would threaten financial stability, Boston Federal Reserve Bank President Eric Rosengren told the Financial Times in an interview published on Monday.

"It's very important for us to get back to our 2% inflation target but the goal is for that to be sustainable," Rosengren told the newspaper. "And for that to be sustainable, we can't have a boom and bust cycle in something like real estate."

· Elon Musk and Jack Dorsey agree to talk about bitcoin at an event in July

Tech billionaires Elon Musk and Jack Dorsey have agreed to discuss bitcoin with each other at an event in July.

Comments from Musk have taken bitcoin investors on a wild ride lately. The eccentric Tesla boss initially supported bitcoin, briefly adding the hashtag #bitcoin to his Twitter bio in January.

· China's factory activity seen growing at a slower pace in June: Poll

Chinese factory activity likely expanded at a slower pace in June, hit by a resurgence of COVID-19 cases in the major export province of Guangdong, a Reuters poll showed on Monday, though quick containment indicates economic disruption is easing.

· Singapore wants to be an e-commerce hub as Asia’s digital economy grows

Singapore wants to become a leading e-commerce hub in Asia — but there may be challenges ahead.

As the pandemic reshapes consumer behavior worldwide, more and more people in the region are shopping online and Southeast Asia’s digital economy saw significant growth.

· Moody’s says these Indian infrastructure firms are better positioned to withstand Covid disruptions

· Australia says pandemic will hit gov't budget, population over next 40 years

The coronavirus-induced border closures and lockdowns in Australia will have an enduring impact on government coffers and population growth, according to official forecasts released on Monday.

The Australian government's "Intergenerational Report 2021" forecasts the budget will remain in deficit for at least another 40 years, a departure from the ruling Liberal-National coalition's long-established "debt-and-disaster" rhetoric.

· Australia's COVID-19 response team holds urgent meeting amid outbreak

Australia’s COVID-19 response committee is due to hold an emergency meeting on Monday as outbreaks of the highly contagious Delta variant across the country prompted a lockdown in Sydney and renewed restrictions elsewhere.

· Sydney lockdown seen slicing 0.1% off Australia's GDP - economists

· Japan virus response chief hints at fresh state of emergency for Tokyo

Economic revitalization minister Yasutoshi Nishimura, who is heading the government’s coronavirus response, on Sunday hinted that another state of emergency could be declared, depending on future infection levels, in Tokyo and other areas seeing signs of a resurgence in COVID-19 infections.

· GLOBAL VACCINATIONS

At least 212 countries and territories have administered more than 2 billion doses of a Covid-19 vaccine, barely a year after the first Covid-19 case was reported in China. Several different vaccines have been developed at record speed, in large part due to years of research on related viruses and billions of dollars in investment.

· U.S. airstrikes target Iran-backed militias in Syria, Iraq

The U.S. military, under the direction of President Joe Biden, conducted airstrikes Sunday against what it said were “facilities used by Iran-backed militia groups” near the border between Iraq and Syria.

Pentagon Press Secretary John Kirby said the militias were using the facilities to launch unmanned aerial vehicle attacks against U.S. troops in Iraq.

Kirby said the U.S. military targeted three operational and weapons storage facilities — two in Syria and one in Iraq.

Reference : CNN, CNBC, Reuters