By Eileen Soreng (Reuters) - Gold prices eased on Monday as a slightly stronger dollar and buoyant equities dimmed the safe-haven metal s appeal, with investors awaiting U.S. inflation data and Federal Reserve Chairman Jerome Powell s testimony this week. Spot gold fell 0.2% to $1,803.56 per ounce by 0341 GMT. U.S. gold futures were 0.4% lower at $1,803.9. There could be reduced demand for safety and hedge against market volatility, said Margaret Yang, a strategist at DailyFX. However, the near-term trend for gold seems to be biased towards the upside, with the immediate resistance at $1,815 and support at around $1,790, Yang added. Asian shares rallied after Wall Street posted record closing highs on Friday, while the dollar index inched 0.1% higher.
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Gold subdued on firmer dollar even as investors await US inflation data
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