Gold prices fall as investors await US jobs report

Gold prices fell on Monday as markets awaited the US jobs data to be released this week.

Spot gold fell 0.3% to reach $1,808.07 per ounce, while gold futures contracts for December delivery declined 0.4%, or $7.1, to reach $1,810.1 per ounce, by 10:41 am Makkah time.

Elsewhere, silver futures for September delivery fell 0.14% to reach $25.51 per ounce, platinum increased 0.6% to reach $1,057.5 per ounce, and palladium gained 0.47% to $2,675.41 per ounce.

This comes in light of concerns about the Delta variant, as the US Chief Infectious Diseases Expert, Anthony Fauci, warned that things will get worse, with the increase in cases, most of which are among the non-vaccinated.

Investors are awaiting the release of the US monthly jobs report on Aug.6 to assess the health of the labor market, with expectations that the data will show a strong pace of employment in July.