Gold prices firmed on Monday, supported by a weak U.S. dollar, as markets awaited Donald Trump's return to the White House and his inauguration speech later in the day for hints on the impact of his upcoming policies on the economy and rate-cut outlook.

President Donald Trump launched his second term with a strident inaugural address that vowed to prioritize America’s interests with a “golden age” for the country, while taking on “a radical and corrupt establishment.

Gold firmed on Monday on a softer dollar as investors awaited Donald Trump's inauguration speech later in the day for insights into his policies that are expected to provide clarity on the inflation outlook and Federal Reserve's future rate decisions.

Gold prices were little changed on Monday as traders awaited the inauguration speech of President-elect Donald Trump later today. “The US Dollar (USD) kicks off the new week on a softer note and erodes a part of Friday’s positive move amid bets that the Federal Reserve (Fed) will cut interest rates twice this year amid signs of abating inflation

Gold cut early losses on Monday as investors looked forward to Donald Trump's inauguration speech for clarity on the incoming administration's policies, which could offer further clues on the Federal Reserve's interest rate path.