Gold prices rose slightly on Monday, influenced by a stronger dollar and reduced investor expectations of a US Federal Reserve interest rate cut, following Jerome Powell's hawkish comments last week. The precious metal was also negatively affected by easing trade tensions between the US and China.
Gold rose 0.1% in spot trading to $4,006.01 an ounce.
Meanwhile, US gold futures for December delivery rose 0.5% to $4,016.40 an ounce.
The dollar index held near its highest level in three months, making dollar-denominated gold more expensive for holders of other currencies.
The US Federal Reserve cut interest rates by a quarter of a percentage point on Wednesday for the second time this year, bringing the target range for the federal funds rate to between 3.75 and 4.00%.
Data from CME Group's FedWatch showed that markets now expect a 71% rate cut in December, compared with expectations of over 90% before Powell's remarks.
US President Donald Trump said on Thursday that he had agreed with his Chinese counterpart Xi Jinping to reduce tariffs on China in exchange for Beijing taking strict measures against the illegal trade in fentanyl, resuming purchases of US soybeans, and ensuring continued exports of rare earth minerals.
As for other precious metals, silver fell 0.5% in spot trading to $48.41 an ounce, platinum dropped 0.1% to $1,566.40, and palladium declined 0.6% to $1,424.88.
