By Arpan Mukherjee Gold was little-changed in Asian trade Monday after surging to a five-month high Friday, and heightened expectations of fresh monetary stimulus from central banks are likely to support prices in the coming days. At 0450 GMT, spot gold was at $1,690.30 a troy ounce, down $1.30 from its previous close after touching a session low of $1,686.02/oz on profit-taking. Gold jumped 2.2% to close at $1,691.60 Friday, after hitting a five-month high at $1,692.92/oz, after U.S. Federal Reserve Chairman Ben Bernanke said in keenly anticipated speech that the central bank "will provide additional policy accommodation as needed" to support economic recovery. He didn't offer details. Bullish momentum will likely carry gold to $1,730/oz as the market prices in expectations of further monetary stimulus from the Fed, but the price will need to remain above $1,676/oz to confirm its recent breakout, ANZ analysts said in a note. The price of gold usually rises when liquidity is injected into the financial system because many investors use gold as a hedge against inflation. In the near term, market participants will turn their focus to a European Central Bank meeting set for Thursday and U.S. non-farm payroll data due Friday. Market participants don't expect the ECB to announce a complete bond-buying program, but some expect it to present a framework that paves the way for such action in coming months. Weak U.S. payroll data would likely send gold higher because it would increase the chance that the Fed will announce additional stimulus at its next policy meeting Sept. 12-13, Jonathan Barratt, chief economist of Barratt's Bulletin, said in a report. In other precious metal trading, silver was at $31.77/oz, up 3 cents. Platinum was at $1,539.75/oz, up $4.75, and palladium was at $629.80/oz, up $1.80. Write to Arpan Mukherjee at arpan.mukherjee@wsj.com

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