Gold dips on stronger dollar and profit-taking

Gold prices eased slightly as a firmer dollar and profit-taking weighed on the metal following last week's rally. Meanwhile, traders monitored ongoing Middle East conflicts and anticipated further central bank monetary tightening.

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FILE PHOTO: A salesman arranges gold bangles inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Mumbai, India, May 7, 2019. REUTERS/Francis Mascarenhas/File Photo

Gold fell 0.1% to $4,371.95 per ounce on Monday afternoon, pressured by a stronger dollar and profit-taking. The decline follows a late-week rally that pushed bullion near record highs.

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