Gold prices fell on Monday as the dollar strengthened and expectations of rate cuts by the Federal Reserve declined.
The drop comes amid rising oil prices and ongoing tensions related to Iran.
Spot gold fell 0.9% to $4,631.69 per ounce.
U.S. gold futures dropped 0.5% to $4,657.50.
According to Reuters, U.S. jobs data came in stronger than expected.
Analysts noted that inflation pressures and rising oil reduce gold’s safe-haven appeal.
