Bengaluru Gold inches down

Reuters

Gold edged lower on Monday as the dollar steadied and equity markets rallied following upbeat U.S. jobs data last week that came as more evidence the economy had regained speed after a first-quarter lull.

Asian share markets enjoyed a relief rally as the upbeat U.S. jobs data on Friday lessened immediate concerns about the health of the world´s largest economy, while the long-run fallout from Brexit kept sovereign yields near record lows.

The dollar index inched up 0.4 percent to 96.670, hovering near an 11-day high of 96.697 hit on Friday.

Spot gold was trading down 0.3 percent at $1,362.35 an ounce at 0653 GMT.

The yellow metal, which hit a low of $1,335.68 an ounce ahead of better-than-expected U.S. jobs data, rose in early trade to just shy of a more than 2-year high of $1,374.91 hit on July 6. U.S. gold was up 0.4 percent at $1,363.90 an ounce, after earlier hitting a high of $1,376.50.