Institutions: Expectations of a Fed rate cut offset some of the dollar's gains, and gold prices remained stable.

Gold prices held steady on Monday as rising expectations of a Federal Reserve rate cut next month helped offset pressure from a stronger dollar. "Investors assessed the prospect of another rate cut after New York Fed President Williams hinted at room for a rate cut amid a weakening job market, and gold prices held steady," said Ole Hansen, head of commodity strategy at Saxo Bank. "However, other officials were more cautious." Williams said on Friday that U.S. interest rates could fall without jeopardizing the Fed's inflation target, while also helping to protect against a decline in the job market. According to CME FedWatch, bets on a rate cut next month surged from 40% to 72% after Williams' dovish comments. (Jinshi)