Gold prices fell on Monday as investors stockpiled cash, with a rising numbers of coronavirus-led national lockdowns threatening to overshadow stimulus measures from global central banks to combat the economic damage.
Spot gold slipped 0.2% to $1,494.63 per ounce by 0320 GMT, after rising as much as 3.1% in the previous session on a wave of stimulus.
U.S. gold futures climbed 0.8% to $1,496.70 per ounce.
Another concern is the possibility of central banks having to sell gold to buy dollars as the greenback continues to strengthen, he added.
The dollar held near a three-year high against major currencies as fresh declines in global stocks and worries about tightening liquidity amid the worsening crisis accelerated the flight to cash.
Source : Reuters