Gold prices fell on Monday as the U.S. dollar held firm, while investors looked forward to economic data and comments from Federal Reserve officials for clarity on the rate cut timeline.

Spot gold was down 0.6% at $2,317.84 per ounce, as of 1229 GMT, after rising 1% on Friday. U.S. gold futures dipped 0.7% to $2,332.50.

U.S. 10-year Treasury yields and the dollar ticked up on the day, making bullion less attractive.

"Gold bulls are keeping their U.S. rate cut expectations in check following more hawkish Fed speak over the weekend," Han Tan, chief market analyst at Exinity Group, said.

Minneapolis Fed President Neel Kashkari said on Sunday it's a "reasonable prediction" that the U.S. central bank will cut interest rates once this year, waiting until December to do so.

A slew of Fed policymakers are due to speak this week. Major data points are U.S. retail sales data on Tuesday, weekly jobless claims on Thursday and flash PMIs on Friday.

Data published last week showed that the labor market and price pressures were showing signs of cooling.

Lower rates make non-yielding bullion more attractive.

"Major economic data will also be gleamed to see if deteriorating economic conditions could hasten more policy easing - a boon for gold prices," Exinity's Tan said.

Elsewhere, China's May industrial output missed forecasts amid a property market slump, high local government debt and deflation.

Spot silver fell 1.1% to $29.20 per ounce, platinum was steady at $957.30 and palladium gained 0.3% to $887.92.

"Battery electric vehicle (BEV) sales may fail to align with headline climate targets as the growth in the share of BEVs sold in the EU has stalled," analysts at Heraeus said in a note.

"A slower transition would sustain PGM demand from ICE (Internal Combustion Engine) vehicles over the longer term."

(Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Sonia Cheema and Shailesh Kuber)