• Gold edged lower on Monday to touch a near four-week low as the dollar held firm, with the market waiting on comments from a top U.S. Federal Reserve official after last week's soft economic data.
Spot gold fell 0.1 percent to $1,252.40 per ounce as of 0428 GMT. It hit a fresh low of $1,250.80 during the session, its lowest since May 24.
• New York Fed President William Dudley, a close ally of Fed Chair Janet Yellen, is due to take part in a roundtable with local business leaders in Plattsburgh, New York.
"If Dudley confirms that the Fed will remain hawkish towards interest rate hikes, I do not think gold will be able to recover anytime soon," said Argonaut Securities analyst Helen Lau.
• Spot gold is expected to drop to $1,243 per ounce, as suggested by its wave pattern and a Fibonacci projection analysis, according to Reuters technicals analyst, Wang Tao.
• Gold is likely to be tested on the downside for at least the first half of the week, Alex Thorndike, a trader at MKS PAMP Group, said in a note.
• Hedge funds and money managers raised their net long position in COMEX gold for the third straight week to the highest in seven months in the week to June 6, and upped it slightly in silver, U.S. Commodity Futures Trading Commission data showed on Friday.
• Silver rose 0.6 percent to $16.68 per ounce. It hit a low of $16.575 during the session, its weakest since May 19.
Reference: Reuters
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