Gold prices fell in Monday's trading as the dollar strengthened, amid ongoing monitoring of trade developments between the United States and other countries.
Futures contracts for the yellow metal, for June delivery, dipped slightly to $3,296.30 per ounce as of 9:40 a.m. Mecca time.
Meanwhile, the spot price of gold declined by 0.98% or $32.61 to $3,287.11 per ounce, after reaching an all-time high of $3,500.05 on April 22.
Nevertheless, gold prices remain up by around 25% so far this year, outperforming almost all major asset classes, amid the tariffs imposed by U.S. President Donald Trump, which have created uncertainty and pushed investors towards safe-haven assets.
Silver futures for July delivery fell by 0.94% to $33.02 per ounce, while the spot price of platinum remained steady at $975.44 per ounce.
Meanwhile, the U.S. Dollar Index — which measures the performance of the greenback against a basket of six major currencies — rose by 0.27% to 99.73 points.
Investors are now awaiting the release of the U.S. monthly jobs report for April, due next Friday, which could provide clues about the potential path of Federal Reserve interest rate policy
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