Global Gold Prices Decline as Rate Cut Chances Diminish

Gold prices declined globally on Monday as the dollar rose and expectations of rate cuts weakened.

This comes alongside rising oil prices and ongoing tensions.

Spot gold dropped 0.9% to $4,631.69 per ounce.

Futures fell 0.5% to $4,657.50.

According to Reuters, strong U.S. jobs data weighed on gold.

This reduced its appeal as a safe haven.