Gold speculators raise net long position CFTC
At least 7 U.S. Fed officials due to speak this week
Focus on Tuesday39;s U.S. consumer price index report
China, Hong Kong, Japan, Singapore on holiday

Feb 12 Reuters Gold prices were flat on Monday in holidaythinned trading, as investors awaited remarks from a slew of U.S. Federal Reserve officials in a datapacked week.

Spot gold held its ground at 2,023.03 per ounce, oscillating in a 5 range, as of 0523 GMT.

U.S. gold futures were also steady at 2,037.10 per ounce.

Gold is remarkably resilient, given we39;ve seen almost 60 basis points of cuts for 2024 come out of the market since the January high, said Kyle Rodda, a financial market analyst at Capital.com.

Positioning is neutral, and if the data deteriorates softening the dollar and deepening U.S. rate cut bets, then gold will shine again. The big risk this week is consumer price index CPIif that comes in hot, another test of 2,000Oz level could be on the cards

Trading is expected to be thin during Asian trading hours due to market holidays in China, Hong Kong, Japan, South Korea, Singapore, Taiwan, Vietnam and Malaysia.

COMEX gold speculators raised their net long position by 10,616 contracts to 82,591 in the week ended Feb. 6, data showed on Friday.

Market participants will focus on U.S. CPI data on Tuesday, retail sales data on Thursday and produce price index PPI data on Friday, while also awaiting remarks from atlas 7 Fed officials this week.

Several…