Gold prices fell as the dollar and US Treasury yields climbed, with investors awaiting the minutes of the Federal Reserve's June meeting for clues about the monetary policy direction of new Governor Kevin Warsh.
Spot gold dropped 0.9% to $4,127.59 per ounce, while US gold futures for August delivery fell 0.7% to $4,139.50.
Matt Simpson, senior analyst at StoneX, said: "Gold posted a solid recovery last week, so it is not surprising to see it pull back a little from some of those gains at the start of this week." The dollar rose, increasing the cost of dollar-priced gold for holders of other currencies, while the benchmark 10-year US Treasury yield climbed to its highest level in two weeks.