Gold inched lower on Monday as the dollar steadied and as Asian equities firmed following stronger-than-expected U.S. jobs data late last week that reinforced expectations of another interest rate hike in the United States.
“The dollar’s strength was definitely a negative for gold, as was the fact that yields on both sides of the Atlantic remained elevated,” said INTL FCStone analyst Edward Meir.
Spot gold had fallen 0.2 percent to $1,210.94 per ounce at 0433 GMT. The metal fell more than 2 percent last week, touching its lowest since March 15 at $1,207.15 an ounce.
U.S. gold futures for August delivery were nearly flat at $1,210.10 per ounce.
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