Gold has edged lower, weighed down by a stronger dollar and profit-taking after a rally late last week, while market participants keep a close watch on the conflict in the Middle East, according to Reuters.
Spot gold fell 0.6 per cent to $4,349.99 per ounce by 10:46 GMT (3:46pm PKT). US gold futures were down 0.8pc at $4,387.80.
The dollar gained, making greenback-priced bullion more expensive for holders of other currencies.
“The slightly firmer US dollar is adding to the pressure in gold, while some profit-taking after Friday’s rebound is also playing a role,” ActivTrades Director and CEO Ricardo Evangelista said.
Oil prices have slid to their lowest in more than a week as investors hope for diplomatic progress on the Iran war due to this week’s UN meeting.
