2019.04.0807:09:00UTC+00Gold Hovers Near One-week High Amid Dip In Dollar

Gold prices hit over one-week high on Monday as the U.S. dollar sagged and bond yields extended their decline ahead of minutes of the Federal Reserve's March meeting, due later in the week.

Spot gold rose nearly half a percent to $1,297.45 per ounce, after touching its highest level since March 29 at $1,297.86 earlier in the day. U.S. gold futures were also up by half a percent at $1,301.45 an ounce.

Investors are reacting to Friday's mixed jobs report, which beat on the headline number but missed on average hourly wages.

While employment increased, wage growth lost momentum in March, with average hourly earnings rising a modest 0.1 percent after jumping 0.4 percent in February.

The moderation in wage growth reiterated investor expectations that the Fed will suspend further interest rate increases this year.

The Federal Reserve will release its March meeting minutes on Wednesday with no surprises expected.

Investors also keep an eye on the U.S.-China trade negotiations ahead of new discussions set to resume this week.