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Gold prices inched higher on Monday and approached the $1,000 per ounce mark. A choppy U.S. dollar limited the hedge appeal of the metal.
December-dated gold rose to $994.10 per ounce, up $2.10 on the session. Prices hit as high as $998.00 and as low as $986.70.
The dollar moved near its overnight levels against the euro, remaining near a 13-day high. The greenback was also uncertain versus the sterling.
Traders remained on the sidelines with employment and gross domestic product looming later this week. A string of jobs data kicks off Wednesday with the ADP report and culminates on Friday with the Labor Department data. The second quarter GDP data is also due Wednesday.
On Tuesday, the Case-Shiller housing price index is due at 9 a.m. ET. A drop of 14.2% is expected to July, compared to a drop of 15.44% in June.
At the same time, the Conference Board will announce its consumer confidence data for September. A reading of 57.0 is expected, compared to 54.1 in August.
On Friday, gold dropped to $991.60 per ounce, down $7.30 for the session. Prices dipped as low as $990.40 earlier in the session.
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