Gold falls despite weaker dollar

Gold prices fell in electronic trading on Monday, despite a falling US dollar in holiday-calm trading.

The US stock and bond markets are closed today in observance of the US holiday the Presidents' Day.

The markets are focused on the ongoing discussions between the White House and the US Congress over President Joe Biden's $1.9 trillion Covid-19 relief plan.

The Biden administration is pushing to pass the stimulus package to boost economic activity, which was reflected in Treasury Secretary Janet Yellen's comments that the lockdowns may continue until the end of 2021 if the stimulus plan is rejected in Congress.

The dollar index fell against a basket of major currencies by 0.2% to 90.3 points as of 18:23 GMT, after hitting a high of 90.4 points and a low of 90.2 points.

Gold spot futures fell 0.2% to $1,818.9 an ounce, after hitting a day high of $1827.1, and a low of $1,815.5.