Gold Declines as the Dollar Strengthens

Gold prices declined on Monday as the U.S. Dollar rose across the board, and amid a rebound in stock markets hitting new record highs with an improvement in risk sentiment among investors, which weighed on the demand for safe havens.

In addition, the decline came as a correction movement with profit making after the yellow metal logged its biggest rise in seven weeks.

However, losses were limited by the persistent fears about the spread of the Delta variant of the coronavirus.

Gold futures for August delivery fell by $4.70, or 0.26%, to close at $1,805.90 per ounce.

Meanwhile, silver futures for September delivery finished nearly unchanged, adding 0.60 cent, at $26.24 per ounce.