After data showed that U.S. inflation declined, gold prices remained stable on Monday, raising hopes that the Federal Reserve will start cutting interest rates this year.

The spot gold price rose 0.1% to $2,327.12 per ounce at 02:02 GMT. Prices jumped by more than 4% in the second quarter. US gold futures fell by 0.1% to $2,336.60. Data showed on Friday that the personal consumer spending index rose by 2.6% after rising by 2.7% in April. Inflation figures in May were in line with economists' expectations.

Spot silver held steady at $29.12 per ounce, platinum fell 0.2% to $990.90, and palladium rose slightly by 1.1% to $982.62.