Tight US labor market should push inflation higher: Fed's Dudley

On Monday, Gold prices edged lower to touch a near four-week low as the dollar held firm, with the market waiting on comments from a top US Federal Reserve representative following the last week's soft economic data.

Spot gold was down 0.1 per cent at $1,252.21 per ounce, as of 0127 GMT. USA gold futures for August delivery fell 0.2 percent to $1,254.20 an ounce.

Dudley's comments, if hawkish, could reinforce the dollar's uptrend, which when it rises makes dollar-denominated commodities more expensive for holders of other currencies, potentially weakening demand.

Isthmus Partners LLC Has $101000 Stake in Marathon Petroleum Corporation (MPC)
The institutional investor owned 271,532 shares of the oil and gas company's stock after selling 37,649 shares during the period. Norges Bank purchased a new stake in Marathon Oil Corporation during the fourth quarter worth approximately $135,529,000.

Gold Reserve Inc had said on Friday it received $40 million from the government of Venezuela as part of a $1.03-billion settlement arbitrated by the World Bank for the termination of its Las Brisas gold concession in 2009. "I do see some support from uncertainty about the United Kingdom government and the start of Brexit negotiations".

British Prime Minister Theresa May failing to win a parliamentary election earlier in June has, alongside Brexit negotiations starting on Monday in Brussels, fuelled political uncertainty.

The index had climbed to a two-week high of 97.560 late the previous week after the Fed raised interest rates and kept the door open for another hike in 2017.

Champions Trophy: Sarfraz Ahmed wants cricket to return to Pakistan
I was telling somebody the other day that I have had five semi-finals with South Africa and never got to a final. Hasan had a superb tournament, finishing as the highest wicket-taker and taking home the man-of-the-series award.

Elsewhere, palladium was up 0.6 percent at $865.8 an ounce.

But analysts say palladium's gains of more than 25 percent so far this year may not be justified given slowing auto sales.

"In the wake of Friday's weak United States data, Dudley could provide insight into whether the Fed is still poised to continue normalising monetary policy", said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo. Benchmark 10-year note yields jumped to as high as 2.18 percent on Dudley's comments, up from a low of 2.14 percent overnight. "There are a several reasons why, namely credit, a maturing business cycle, and reduced incentives". Data released before the Fed meeting on Wednesday showed US consumer prices unexpectedly fell in May and retail sales recorded their biggest drop in 16 months, suggesting a softening in domestic demand. In China the drop was 0.1%, but the expectation is for further falls over coming months. Silver rose 0.6 percent to $16.68 per ounce.

Sixers will acquire No. 1 pick to draft Markelle Fultz
Fultz already has a bond with the team's best player, Joel Embiid . "Oh, man, I can see it happening", Fultz said. The Sixers had eyes wide open Saturday and Embiid was one of the more enthusiastic observers at Fultz's workout.

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