Hanoi:Gold futures for December delivery declined by $26.10 to $4,190.20 per ounce in Monday's trading, reflecting a 0.6% decrease. This drop comes after gains in the previous two sessions.
According to Bahrain News Agency, the decline in gold prices is attributed to a stronger US dollar and rising oil prices, which exerted downward pressure on the market.
The US Dollar Index rose by 0.3%, reaching its highest level in a year. This increase made dollar-denominated gold more expensive for holders of other currencies, contributing to the price drop.