Gold prices inched lower on Monday as equities rose, but policy easing expectations by major central banks gathered momentum, amid soft economic data, which kept prices steady over the psychological level of $1,500.

Spot gold eased 0.1% to $1,505.20 per ounce, as of 0739 GMT, having fallen nearly 1% in the previous session. U.S. gold futures also dipped 0.1% to $1,514.1 an ounce.

Data on Sunday showed China’s exports unexpectedly fell in August as shipments to the United States plummeted, pointing to further weakness in the world’s second-biggest economy and underlining the need for more stimulus.

Source : Reuters