Gold prices on Monday were trading lower as the dollar strengthened to start the week, amid concerns about tensions between the U.S. and China. Investors also watched COVID-19 infections as businesses reopen domestically and elsewhere in the world.

On Comex, June gold fell $5.50, or 0.3%, at $1,708.40 an ounce, after the most-active contract for gold saw a weekly rise of almost 0.8% put in on Friday.

Meanwhile, July silver was down 5 cents, or 0.4%, at $15.725 an ounce, following a weekly rally of nearly 6% for silver futures, according to FactSet data.

A measure of the dollar against a half-dozen currency rivals was up 0.4% at 100.11 on Monday, as gauged by the ICE U.S. Dollar Index.

Source: Marketwatch