Gold Prices Dip as Dollar Strengthens

Gold prices decreased on Monday due to the rise of the dollar and signs of eased trade tensions between the U.S. and China. Investors are also looking ahead to key central bank meetings later in the week.

As of 0120 GMT, spot gold dropped 0.5% to $4092.76 per ounce. Meanwhile, U.S. gold futures for December delivery fell 0.7% to $4106.80 per ounce.

The dollar surged to its highest level in over two weeks against the yen, which makes gold more expensive for holders of other currencies.

Other precious metals also showed mixed movements. Silver in spot transactions decreased by 0.3% to $48.44 per ounce.

Platinum increased by 0.5% to $1612.95, and palladium rose 0.2% to $1431.94 per ounce.