Gold muted below touched peaks on Mondays, with attention shifted towards the anticipated US inflation figures to find out more hints on the possible timing that Fed will likely start interest rate cut.

Spot gold edged up 0.1% to $2,180.47 per ounce, while gold futures climbed 0.1% to $2,187.00 per ounce. The two instruments were trading just lower than touched peak on Friday.

Bullion prices spiked and hit a peak the previous week triggered by projections of interest rate trim, with particular emphasis, Fed Chair Jerome Powell stated that inflation is nearing levels that the Federal Reserve deems satisfactory.

Moderate labor market figures, suggested a slowdown in U.S. employment, which buoyed bullion prices. The weakening of the dollar and Treasury yields also played a role in supporting the precious metal.

Eyes are now on US consumer price index figures scheduled to release on Tuesday which shall give more hints on the interest rate trajectory.