Gold slips as dollar ticks higher

Gold prices slipped to a near-one-week low on Monday due to an uptick in the US dollar, with investors awaiting details on the trade front ahead of US President Donald Trump's tariff negotiation deadline, reports Reuters.

Spot gold was down 0.9 per cent at $3,303.93 per ounce by 1148 GMT. US gold futures shed 0.9 per cent to $3,313.10.

"We are seeing a slight pullback due to short-term positive dollar and maybe that's just due to the fact that the economic data coming from the US is still pretty strong, taking away the immediate need to cut rates," said WisdomTree commodities strategist Nitesh Shah.

The dollar rose 0.2 per cent against its rivals, making gold more expensive for other currency holders.

Last week, data showed US job growth was unexpectedly solid in June. Also, concerns about tariff-driven inflation have led to expectations of slower Federal Reserve rate cuts.

Minutes from the Fed's last meeting due later this week could shed more light on the US central bank's rate cut path.

Meanwhile, the US is close to finalising several trade agreements in the coming days and will notify other countries of higher tariff rates by July 9, Trump said on Sunday. The higher rates are scheduled to take effect on August 1.

Elsewhere, spot silver fell 1.9 per cent to $36.22 per ounce, platinum fell 2.4 per cent to $1,358.17 and palladium lost 1.7 per cent to $1,115.38.