Gold has fallen in price during today's trading as strong data on the US labor market and the prospects for monetary stimulus gain from some central banks have breathed life into the stock markets and the dollar rose against a basket of currencies.
But lingering concerns about the impact of Brexit supported gold, and its price is still far from the two-year high reached last week.
"Precious metal loses some luster as investors are more focused on the stock market, given the high chances of easing monetary policy of central banks," - said principal analyst Think Markets Naeem Aslam. "The strength of the dollar has also played a role. "
Stocks rose on Monday in Europe and Asia after the data on the number of jobs in the US, while the yen has fallen by more than 1 percent against the dollar after Japan's ruling coalition won the elections and promised a new stimulus package.
The dollar rose after strong data on US labor market on Friday, as the chances of an increase in the Fed's interest rate increased until the end of the year.
The probability of Fed raising rates in December is currently estimated at 24 percent, according to CME FedWatch, although the majority of market participants still believe that they will remain unchanged.
CFTC showed on Friday that hedge funds and money managers held a record net long positions in gold and silver contracts on COMEX.
Global mining companies have increased net hedging to 50 tons in the first quarter of 2016.
The cost of the August gold futures on the COMEX fell to $ 1351.8 per ounce.

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