The precious metal gold remained traded under pressure as the US dollar continued to hold firm ahead of the release of US inflation data.
This was shown by gold's movement in the Asian session, where the yellow metal was trading hovering around a one-month low of $1,860 an ounce.
Gold's bullish pattern has changed after a strong US jobs report supported the greenback.
In fact, Federal Reserve (Fed) Chairman Jerome Powell also said that if employment data remains strong and inflation remains high continuously, the central bank may raise rates higher than expected.
This has provided support for the US dollar to bounce back from its lows, and now investors are focusing on inflation data on Tuesday that will determine the next interest rate expectations for the market.
US consumer prices are forecast to continue to decline but at a slower pace from 6.5% to 6.2% year-on-year in January.
