Gold prices fell on Monday, and pulled back from a 2-month high on correction and profit-taking, as the US dollar rebounded against a majority of rivals.

Gold prices fell 0.4% to $1,822.79 an ounce, after opening at $1,829.55, and hit a high at $1,830.34.

Gold closed higher by 0.9% on Friday, and hit a 2-month high of $1,834.0, after disappointing jobs data in the US.

Gold prices gained 0.5% last week, the fourth straight weekly gain, thanks to the US dollar's drop.

The dollar index rose 0.2% on Monday away from four-week lows at 91.94 against a basket of major rivals. 

Dollar remains under pressure from disappointing jobs data from the US last Friday, which hurt chances of earlier policy tightening in the next two years. 

Gold stocks at the SPDR ETF remained unchanged on Friday, with the total at the lowest level since April 9, 2020 at 998.52 metric tonnes.

Oil prices fell on Monday, for the second day and pulled back from the 1-month high due to profit-taking, and renewed concerns about global demand, especially in China and Japan.

US crude fell 1.3% to $68.28 barrel, after opening at $69.20, and hit a high at $69.22, and Brent crude fell 1.25% to $71.54 a barrel, after opening at $73.46, and hit a high at $73.58.

The US crude lost 0.8% on Friday, due to profit-taking from its 1-month high of $70.59, and Brent fell 0.5%.

Oil prices gained around 0.75% last week, the second straight weekly gain, as the US dollar fell against its peers, and the US crude inventories fell .

In addition to profit-taking, oil prices are currently being pushed lower due to renewed concerns about global demand for fuel, especially in China and Japan.

China and Japan are still suffering from the latest wave of Covid infections, which led to the tightening of lockdowns and closures, and consequently weakened industrial and commercial activities.

Euro fell in European trade away from three-month high against dollar on track for the first loss in seven days on profit-taking, with losses contained by disappointing US jobs data, which cut the chances of a rate hike soon.

EUR/USD fell 0.2% to 1.1858, after closing Friday up 0.1%, the sixth profit in a row, marking three-month highs at 1.1909.

Euro rose 0.7% against dollar last week, the second weekly profit in a row as concerns recedes over divergent US and European policies. 

European inflation rose by the fastest rate in ten years in August, raising pressures on European policymakers, and possibly leading to earlier policy tightening.

The dollar index rose 0.2% on Monday away from four-week lows at 91.94 against a basket of major rivals. 

Dollar remains under pressure from disappointing jobs data from the US last Friday, which hurt chances of earlier policy tightening in the next two years. 

Baker Hughes Co. reported today that the number of US oil rigs fell by 16 to 394 rigs this week.

The number of natural gas rigs rose by 5 to 102 rigs, with the total number of natural gas and oil rigs falling by 11 to 496 rigs.