Gold prices edged lower on Monday as the U.S. dollar strengthened, making the precious metal more expensive for holders of other currencies. Spot gold was down 0.2% at $1,290.61 per ounce.

The dollar index, which measures the greenback against a basket of six major currencies, rose 0.3%.

Investors are also keeping a close watch on upcoming economic data releases, including U.S. jobs data, which could provide further clues about the pace of interest rate hikes by the Federal Reserve.

Higher interest rates tend to boost the dollar and weigh on gold, as the metal offers no yield and costs money to store.

Other precious metals also saw some movement. Silver fell 0.4% to $16.44 per ounce, while platinum was down 0.3% at $897.24 per ounce. Palladium rose 0.2% to $1,017.50 per ounce.