Gold prices pulled back Monday as strength in the dollar and U.S. stock market dulled investment demand for the precious metal.
Still, gold remained within striking distance of the multimonth highs grazed last week when equities were rocked lower and investors sought gold’s relative safety.
December gold GCZ8, -0.28% fell $2.90, or 0.2%, to $1,232.90 an ounce. With a mild gain Friday, the contract tacked on 0.6% for last week—its fourth weekly rise in a row. The late week’s subdued move, however, left gold, at Friday’s settlement, about a buck short of the roughly three-month high it settled at earlier last week.
