Gold eases, investors seek more cues on Fed's rate path

"I'm not convinced a Trump victory or loss directly links to a binary outcome for gold's direction in the same way Fed policy expectations have been. But if Trump stirs up trade wars, then you'd think it builds a good case for gold to perform well under his presidency," City Index senior analyst Matt Simpson said.

Fed Chair Jerome Powell is due to speak later in the day and a few other officials later in the week. Data sets due this week include U.S. retail sales, industrial output for June and weekly jobless claims.

"If we get another big miss on retail sales, it will reinforce there is a sense of urgency to cut rates, which could help gold. If gold breaks the $2,450 barrier, then prices will see new record highs," said Ilya Spivak, head of global macro, Tastylive.

Markets are pricing in a 93% chance the Fed will cut rates in September, according to the CME Fedwatch Tool. Non-yielding bullion's appeal tends to shine in a low interest rate environment.

Key metals consumer China's economy slowed in the second quarter, data showed, keeping alive expectations Beijing will need to unleash more stimulus.

Spot silver rose 0.4% to $30.88 per ounce, platinum slipped 0.3% at $995.80 and palladium dropped 0.7% to $962.50.