Gold is retreating from a 3-week high, and the dollar is regaining some of its gains
Gold prices fell today from a three-week high in the previous session, with the US dollar regaining some of its gains, making bullion priced in US dollars more expensive for holders of other currencies.
Spot gold fell 0.4 percent to $1,672.99 an ounce by 0449 GMT.
The precious metal rose 3 percent on Friday, with the dollar falling nearly 2 percent, after US jobs data revived hopes that the Federal Reserve will be less hawkish in raising interest rates in the future.
US gold futures settled at $1,676.30.
Matt Simpson, analyst at City Index, said it's not unusual to see prices pulling back against a big move from the previous session, gold pulling back as the dollar rose slightly.
The dollar index regained some losses, rising 0.2 percent.
Four Federal Reserve policymakers indicated on Friday that they are still considering a smaller rate hike at their next monetary policy meeting.
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