PRECIOUS - Gold Rises as Soft US Economic Data spurs Fed Rate Cut Bets

PRECIOUS - June 3 (Reuters) - Gold prices rose on Monday as weaker-than-expected U.S. economic data cemented expectations that the Federal Reserve would cut interest rates later this year, sending the dollar and bond yields lower.

Spot gold XAU= was up 0.9% at $2,347.12 per ounce as of 2:38 p.m. ET (1838 GMT), after posting a 2% gain last month. Prices hit an all-time high of $2,449.89 on May 20.