Global Gold prices erased earlier gains as dollar regains ground

Gold prices erased earlier gains to trade lower on Monday due to an uptick in the dollar, while investors looked to Federal Reserve policymakers’ speeches this week for signals on their approach to inflation.

Spot gold eased 0.1percent to $1,947.19 per ounce by 0810, GMT. U.S. gold futures  fell 0.5% lower to $1,953.

The dollar index bounced up 0.1% against its rivals, making gold more expensive for holders of other currencies.