- Gold prices fell slightly in Asian trading on Monday, pressured by the strength of the dollar. Expectations of a slower pace of interest rate cuts kept traders keen on holding the U.S. currency.

- Spot gold dropped by 0.1% to $2,635.81 per ounce, while gold futures expiring in February fell by 0.3% to $2,646.51 per ounce.

- The yellow metal has been steadily losing ground since late December after the Federal Reserve indicated it would slow the pace of interest rate cuts in 2025. This outlook has largely influenced the recent rally in the dollar.

- Hawkish comments from some Fed officials over the weekend also pressured gold. San Francisco Fed President Mary Daly stated that the central bank had not yet declared victory over inflation and was closely monitoring the labor market for any signs of weakness.

- Losses in gold and the dollar's strength followed warnings from two Fed officials that the central bank's battle against inflation was far from over, implying a more hawkish stance on interest rates.

- Ongoing inflation and a strong labor market give the Fed less justification to cut interest rates. Focus this week is on upcoming nonfarm payroll data for further indications on interest rates.

- On the other hand, platinum futures fell by 0.4% to $942.0 per ounce, while silver futures declined slightly to $30.055 per ounce.

-------------------------------------
For more articles click here