Gold falls more than 1% in spot transactions

Gold prices fell more than 1% on Monday, as demand for safe-haven assets such as the precious metal weakened, while a stronger dollar added to the pressure.

Spot gold fell 1.4% to $3,272.89 per ounce, and U.S. gold futures fell 0.4% to $3,283.70 per ounce.

The U.S. dollar rose 0.3% against a basket of currencies, making gold more expensive for holders of other currencies.

Among other precious metals, spot silver fell 1.2% to $32.70 per ounce, platinum fell 0.6% to $965.70, and palladium fell 1% to $939 per ounce.