SINGAPORE, Sept 28 (Reuters) - Gold got off to a quiet start to the week on Monday, struggling to recover from the previous session's losses as investors worried over the timing of a U.S. interest rate hike.
FUNDAMENTALS
* Spot gold XAU= was little changed at $1,146.70 an ounce by 0040 GMT.
* The metal had dropped 0.7 percent on Friday after Federal Reserve chair Janet Yellen said the U.S. central bank would begin to raise rates this year.
* Data on Friday also supported the view. U.S. gross domestic product rose at a 3.9 percent annual pace in the second quarter, up from 3.7 percent reported last month. ID:nL1N11V0O8
* Earlier in the month the Fed delayed a long-anticipated rise in U.S. rates, sparking volatility in global markets.
* Gold had benefited from ultra-low rates, but the non-interest-paying metal could see demand take a hit once rates start going up.
* Several Fed officials are scheduled to speak this week, keeping the focus on U.S. monetary policy. Bullion traders will also be closely monitoring economic data, including non-farm payrolls data on Friday, to gauge the strength of the economy.
* SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.57 percent to 684.14 tonnes on Friday. GOL/ETF
* Hedge funds and money managers raised their bullish bets in COMEX gold and silver futures and in the week to Sept. 22, U.S. Commodity Futures Trading Commission data showed on Friday. ID:nL1N11V219
* Among other precious metals, platinum XPT= steadied on Monday, after posting its biggest weekly drop since July on Friday.
* The metal had fallen to a 6-1/2-year low last week on fears that the Volkswagen (XETRA:VOWG) emissions scandal could dent demand for diesel cars, where it is used in catalysts.
* But there is a glimmer of hope for the metal with the prospect of tighter emissions legislation. Upcoming European legislation on CO2 emissions will make it harder for authorities to back a war on diesel. ID:nL5N11V1U6
* For the top stories on metals and other news, click TOP/MTL or GOL
MARKET NEWS
* Asian stocks struggled for traction on Monday after an uninspiring performance on Wall Street at the end of last week, while the dollar consolidated its gains against the yen and euro. MKTS/GLOB
DATA AHEAD (GMT)
1230 US Personal consumption, income for August
1230 US Core PCE Price index August
0200 US Pending Home Sales August
PRICES AT 0040 GMT
Metal
Last
Change Pct chg
Spot gold
1146.7
0.84
0.07 Spot silver
15.045 -0.035
-0.23 Spot platinum
943.65
0.16
0.02 Spot palladium
660.5
-0.97
-0.15 Comex gold
1146.6
1
0.09 Comex silver
15.07 -0.041
-0.27 Euro
1.1202
DXY
96.146
COMEX gold and silver contracts show the most active months