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Investors are also waiting for important US economic data to get signals about future Federal Reserve monetary policy expectations Federal.
Gold futures fell 1.15 percent to $2,650.20.
Market strategist at IG, Yip Jun Rong, said: “It’s exposed yellow metal “There has been some profit-taking recently as market participants mitigate some of the geopolitical risk premium, along with the strength of the US dollar.”
The index rose Dollar by 0.5 percent, which made gold more expensive for owners of other currencies.
Among the key US data scheduled for release this week are the US jobs report and the ADP jobs report, and several Federal Reserve officials are scheduled to speak this week, including Federal Reserve Chairman Jerome Powell on Wednesday.
According to CME Group’s FedWatch tool, market expectations currently point to a 65.4 percent probability of a 25 basis point rate cut in December.
“If the Fed clears the way for the possibility of keeping interest rates unchanged until 2025, we may see a bigger drop in gold prices,” Rong told Reuters.
High interest rates reduce the attractiveness of non-yielding gold.
reduced Gold prices Up more than 3 percent in November, marking its worst monthly performance since September 2023, as higher tariffs loom under the Donald Trump administration. Trump This will fuel inflation and keep interest rates high for a longer period.
On Saturday, Trump called on the BRICS countries to pledge not to create a new currency or support another currency to replace the US dollar, or face 100 percent tariffs.
Among other psychological metals, silver was down 0.7 percent at $30.39 an ounce, platinum was down 0.2 percent at $944.20 and palladium was down 0.3 percent at $975.44 from 02:04 GMT, according to Reuters.
