While investors expect interest rates to fall in June in the United States, gold remained on Monday, close to its highest level in two months.

The gold price stayed near the highest level in two months on Monday, after weaker U.S. economic results last week boosted prospects for a June interest rate cut by the Federal Reserve. Spot gold fell 0.1% to $2,081.11 per ounce at 0400 GMT but hovered near $2088.19, a level seen on Friday when the contract hit its highest since December 28. US gold futures fell by 0.3% to $2,090.00

The price of gold rose by around $50 last week, with all the gains recorded over the past two days due to poor U.S. manufacturing and construction spending data and the easing of price pressures, according to the The Fed's preferred inflation indicator.

Traders increased their hopes for a rate cut in June, and now see a 74% chance, compared to 65% last Monday, according to LSEG's interest rate probability app. Lower interest rates are increasing the appeal of bullion bars that don't make money

Spot platinum fell 0.7% to $884.35 per ounce, and palladium rose 0.1% to $956.53 per ounce. Both metals have fallen by more than 10% since the start of the year. Cash fell by 0.4% to $23.06