China flags more fiscal stimulus, leaves out key details on size
Platinum down 1
U.S. PPI unchanged in September

Oct 14 Reuters Gold prices held steady on Monday as investors assessed China39;s weekend stimulus announcement, while also focussing on U.S. Federal Reserve officials39; comments for further rate cut cues.

Spot gold was little changed at 2,657.93 per ounce by 0548 GMT. Bullion rose nearly 1 in the previous session.

U.S. gold futures were flat at 2,675.00.

The potential commitment to fiscal stimulus from China suggests a healthier economy, which bodes well for gold demand but the market needs to see more concrete measures, said Tim Waterer, chief market analyst at KCM Trade.

China on Saturday said it would significantly increase debt to revive its sputtering economy, but left investors guessing on the overall size of the stimulus package.

Investors will watch out for comments from Fed officials this week for more hints on the upcoming rate cuts, along with U.S. retail sales data.

If the Fed speakers this week create some further doubt over how many rate cuts could occur between now and yearend, any resulting upside in the dollar could see gold support levels around 2,600 again being tested, Waterer said.

Data on Friday showed unchanged U.S. producer prices last month, cementing the case for quarterpoint U.S. interestrate cuts at upcoming Fed policy meetings.

Traders see a roughly 89 chance of the Fed cutting rates by 25 basis points at its November…