Investing.com

Investing.com - Gold prices eased in Asia on Monday in profit-taking with investors watching events in Iraq and any more pressure on the dollar for support cues.



On the Comex division of the New York Mercantile Exchange, gold for August delivery traded at $1,313.90 a troy ounce, down 0.21%, after closing last week at $1,316.60, up 0.19%.



On Thursday, the precious metal rallied 3.25%, or $41.40, after Federal Reserve Chair Janet Yellen signaled the central bank was in no hurry to raise interest rates.



Meanwhile, gold traders monitored events in Iraq, as the conflict between Sunni Islamist insurgents and Iraqi army forces continued at the weeeknd.



U.S. President Barack Obama said Thursday he would send 300 members of the special-operations forces to Iraq and added he was prepared to take "targeted" military action later if deemed necessary.



In the coming week, the U.S. is to release data on consumer confidence, durable goods orders and home sales.



Also on the Comex, silver for July delivery fell 0.65% to $20.858 a troy ounce. Copper for July delivery eased 0.27% to $3.110 a pound.



Copper futures will likely react to data in China, the world''s top importer of the metal. The June preliminary reading of the HSBC manufacturing index for China is due at 0945 Beijing time, or 0145 GMT, rwith 49.7 exepcted, a slight gain from the previous month''s 49.4.





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