Gold prices fell more than 0.5% as of 11:10 GMT to trade at $ 1,310.85 per ounce from the opening level of $ 1,317.58, and recorded the highest level of $ 1,319.03, and the lowest level of $ 1,310.41.
Gold prices lost 0.25% on Friday, the first loss in six days, on correction and profit taking, after recording a nine-month high of $ 1,326.25 an ounce the day before.
Over the past week, gold prices rose 1.15%, the second weekly gain in a row, in support of the high demand for safe assets, and with the prospect of raising US interest rates this year after the results of the first Fed meeting in 2019.
The dollar index rose 0.1% on Monday, extending its third consecutive day of gains, reflecting the continued rally of the greenback against a basket of currencies, pushing the price of gold and other metals denominated in US dollars.
The dollar’s rally now supports a 10-year rally in US bond yields, as well as non-farm payrolls, which were much better than the January forecast, which eased concerns about the US economy entering a slowdown.