What are the reasons for the decline of gold today  

Gold fell during the Asian trading period on Monday at the beginning of the week to below 2630 dollars per ounce, especially with the US dollar rising today as we mentioned here.

With the upward momentum of the precious metal stalled, it ended a four-session winning streak in a row.

Investors are also looking to upcoming US economic data for clues on the Fed's next move on interest rates, key reports to be released include jobs, private wage growth, activity in the services and manufacturing sectors, and the unemployment rate.

Several Fed officials are also scheduled to make some speeches, including Bank Chairman Jerome Powell this week. Currently, markets are pointing to a 65% probability of a 25 basis point rate cut at the Fed meeting later this month, with only two more rate cuts priced in for the whole of 2025.

At the geopolitical level, the 60-day ceasefire agreement between Israel and Hezbollah seems to have helped the gold to retreat, despite mutual accusations of violating the ceasefire.