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Gold prices stabilized on Monday, after jumping as much as 1.2 percent in the previous session, as cautious investors focused on the path of the Federal Reserve (US Central Bank) raising interest rates after swinging job data.
There was no change in the price of gold in spot transactions at $ 1611.48 an ounce (an ounce) at 0148 GMT.
US gold futures settled at $1,722.50.
The Federal Reserve is expected to stick to massive interest rate hikes in the coming months to ease inflation but rising US unemployment and slowing wage growth have traders betting that borrowing costs next year may not rise to the level previously expected.
Companies in the United States hired more than expected in August, but a slight wage growth and a rise in the unemployment rate to 3.7 percent indicate that the labor market is beginning to decline.
Higher interest rates increase the opportunity cost of holding gold and boost the dollar.
The dollar index fell 0.1 percent, having earlier reached its highest level in 20 years.
As for other precious metals, the price of silver settled in spot transactions at $18.03 an ounce, platinum fell 0.2 percent to $833.34, and palladium fell 0.3 percent to $201581.
