Gold Prices Decline Amid Strong US Employment Data

Gold prices declined on Monday as investors digested strong US employment data and awaited key inflation figures for clarity on the Federal Reserve's monetary policy path.

The spot gold price fell 0.5% to $4,405.47 an ounce by 02:11 GMT, after a 1% decline on Friday.

US job growth accelerated sharply in August, with the unemployment rate holding steady at 4.1%, keeping the possibility of an interest rate hike this month on the table.

The CME's FedWatch Tool showed that traders are pricing in a 58.4% probability of an interest rate hike at the Federal Reserve's September 15-16 meeting.