The dollar rebounded and gold prices fell on Monday, amid expectations that the Federal Reserve will raise interest rates sharply, and this has put pressure on gold.
And according to Arab Net, gold fell in spot transactions 0.6% to $ 1791.33 an ounce by 0704 GMT, after rising by about 1.6 percent last week. And US gold futures fell 0.5% to $ 1807.30, according to Reuters.
The dollar erased its earlier losses, climbing 0.2% against its rivals, making gold more expensive for buyers holding other currencies.
Investors are awaiting the minutes of the Federal Reserve's latest monetary policy meeting, due on Wednesday, for more clues to a future rate hike.
Although gold is considered a hedge against inflation, rising US interest rates limit the attractiveness of the non-yielding yellow metal.
As for other precious metals, silver fell in spot transactions by 1.2 percent to $ 20.57 an ounce, and platinum fell 1.3 percent to $ 950.37, while palladium settled at $ 2222.23.
