Gold prices fell during Monday's trading, trading near five-month lows, as rising dollar levels against major currencies and a rebound in the performance of equity indices.
The US dollar hit its highest level in five months as the outlook for the US economy continued to improve, which supported the federal currency to rise to affect the price of commodities in general, especially gold.
Demand for safe haven in the financial markets fell after China and the United States reached an agreement on freezing their trade war and resolving trade disputes, which restored confidence to investors.
Equity indices were positively impacted by news of the decline in the risk of trade war between the two largest economies in the world, which increased investors' abandonment of gold as an alternative investment for equity markets.
Gold prices were trading at $ 1288.82 an ounce after hitting a low of $ 1288.70 an ounce and opened the day at $ 1290.40 an ounce, reaching a high of $ 1292.01 an ounce.