Gold prices fell to their lowest level in more than four weeks on Monday as the dollar stabilized after stronger-than-expected employment data that raised fears that the Federal Reserve (the U.S. central bank) will continue to raise interest rates .
The price of gold remained virtually unchanged at $1,865.88 an ounce by 00:45 GMT, after hitting its lowest level since January 6 at the start of the session.
U.S. gold futures rose 0.2% to $1,879.4, according to Reuters.
The dollar index rose 0.2%, making gold less attractive to buyers holding other currencies.
Data released Friday showed that job growth in the United States accelerated sharply last month, with 517,000 nonfarm payrolls added, far more than the 185,000 estimate.
The unemployment rate fell to 3.4%, the lowest level in 53 and a half years.
In other precious metals, spot silver fell 0.5% to $22.24 an ounce, platinum fell 0.1% to $973.04 and palladium fell 0.5% to $1616. 54 dollars.
