Gold in good shape to make push towards 2,800 analyst
Dollar index eyes largest monthly rise since April 2022
U.S. employment report, PCE data due this week
China JanSept gold consumption slides 11

Oct 28 Reuters Gold prices fell on Monday as the U.S. dollar held firm, while investors awaited U.S. economic data for fresh insights on the Federal Reserve39;s monetary policy path.

Spot gold fell 0.3 to 2,739.23 per ounce, as of 0742 GMT. Bullion hit a record high of 2,758.37 last Wednesday.

U.S. gold futures declined 0.1 to 2,751.50.

The dollar index was on track for its best month since April 2022. A stronger dollar makes gold less appealing for other currency holders.

The U.S. dollar has continued its good run of form in the aftermath of the Japanese election, which has dented gold39;s appeal, said Tim Waterer, chief market analyst at KCM Trade.

Gold still looks in good shape to potentially make a push towards 2,800 and beyond but it will first have to navigate a batch of key macro data this week, which could have interest rate implications for the Fed.

Data lined up for the week includes the U.S. employment report, job openings, and core Personal Consumption Expenditures PCE data, which are vital for assessing the labour market39;s health and inflation trends.

Traders now see a nearly 98 chance of a 25basispoint cut by the Fed in November. Lower rates raise the relative appeal of nonyielding bullion.

Gold drew some support from uncertainty surrounding the…