FUNDAMENTALS
* Spot gold was listless at $2,011.04 per ounce by
0049 GMT. U.S. gold futures fell 0.2% to $2,015.10.
* The dollar edged higher, making greenback-priced
bullion less affordable for overseas buyers.
* Data on Friday showed U.S. consumer sentiment slumped to a
six-month low in May on worries that political haggling over
raising the federal government's borrowing cap could trigger a
recession.
* U.S. President Joe Biden said he expects to meet with congressional leaders on Tuesday for talks on a plan to raise the nation's debt limit and avoid a catastrophic default.
* Markets are pricing in an 84.6% chance of the U.S. central bank holding rates at the current level in June, according to the CME FedWatch tool.
* European Central Bank interest rate hikes are in their
final stretch, said ECB Vice President Luis de Guindos, while
warning that higher borrowing costs could put stress on banks'
asset quality, even if indicators so far remain healthy.
* Safe-haven bullion tends to gain during times of economic
or financial uncertainty, but higher interest rates tend to dim
non-yielding gold's appeal.
* Physical gold demand in India improved slightly last week
as domestic prices eased from recent record highs, while demand
was weak in other Asian centres with some dealers offering
discounts in top bullion consumer China to attract buyers.
* Spot silver rose 0.3% to $23.99 per ounce, and
platinum advanced 0.6% to $1,056.30.
DATA/EVENTS (GMT)
1000 EU Reserve Assets Total April
Euro group finance ministers meet in Brussels
(Reporting by Kavya Guduru in Bengaluru; Editing by Sherry
Jacob-Phillips)
