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 futures rise 0.2% to $2,756.90 a troy ounce, and are set to end the week up 1.5%. The precious metal has managed to notch up gains despite headwinds from a stronger U.S. dollar, says Saxo Bank's Ole Hansen in a note.

Gold prices were pressured by an uptick in the U.S. dollar on Friday, but remained on track for a weekly gain as uncertainties around incoming President Donald Trump's policies and renewed bets of further rate cuts lifted bullion above the key $2,

Gold prices fell on Friday as investors resorted to booking profits after the yellow metal had surged to a one-month-high in the previous session. “Gold price (XAU/USD) retains its negative bias through the first half of the European session on Friday,