Gold prices fell on Monday for the third straight day, as the US 10-year Treasury yield rose, while the safe-haven demand slowed down.

Gold prices fell 0.5% to $1,816.06 an ounce, after opening at $1,825.19, and hit a day high at $1,827.04.

The yellow metal closed lower by 0.1% on Friday, in its second straight daily loss, as the US dollar rebounded against a basket of major currencies.

However, gold prices gained around 0.6% last week, to post the first weekly gain in 3, as the prices of most dollar-denominated metals rose.

The 10-year US Treasury bonds yield rose more than 4% on Monday, extending gains for the second straight day and hit an 11-month high of 1.218%, thanks to the US strong inflation outlook.

The US Congress is about to pass President Joe Biden's $1.9 trillion Covid-19 relief package, as many Republican senators approved the plan.

US Treasury Secretary Janet Yellen urged financial leaders of the Group of Seven (G7) to add extra stimulus to boost the economic recovery from the coronavirus pandemic.

Demand for gold fell last week in India due to severe swings in prices, which weighed down on purchases, as India is the world's second largest consumer of gold.

Gold stocks at the SPDR ETF remained unchanged on Friday, with the total at the lowest level since June 12 of 1,142.22 metric tonnes.

Asian stock indices opened the first session of the week mixed, with Japan, Australia, South Korea higher, while New Zealand lost ground, as China closes for the spring holiday.

Japan's Nikkei 225 index his 30,000 yen for the first time since 1990, while Japan's TOPEX hit 1991 highs with support from energy, healthcare, oil stocks. 

Earlier Japanese data showed GDP growth at 3.0% in the fourth quarter, slowing down from 5.3% in the third quarter, while GDP prices rose 0.2% in adjusted readings, down from 1.3%. 

On a yearly basis, GDP growth hit 12.7% in the last quarter, beating estimates of 10.1%, and raising hopes for faster economic recovery. 

Japan's TOPEX rose 0.68%, while Nikkei 225 climbed 1.18% to 29,867. 

South Korea's KOSPI climbed 1.55% to 30,148, while New Zealand's NZX 50 fell 0.53%, as Australia's S&P/ASX 200 added 0.92% to 6,869.

USD/JPY tilted higher in Asian trade off January 29 lows for the fourth straight session following earlier data from Japan and amid a lack thereof from the US. 

As of 07:08 GMT, USD/JPY rose 0.09% in the last session with a session-high at 105.14 and a low at 104.91. 

Earlier Japanese data showed GDP growth at 3.0% in the fourth quarter, slowing down from 5.3% in the third quarter, while GDP prices rose 0.2% in adjusted readings, down from 1.3%. 

On a yearly basis, GDP growth hit 12.7% in the last quarter, beating estimates of 10.1%, and raising hopes for faster economic recovery. 

The British pound rose against the US dollar on Friday, after the release of upbeat economic data.

The British preliminary GDP reading showed a growth of 1.0% in Q4, while the third quarter's reading was at 16%.

The UK business investment index rose 1.3%, beating forecasts of a drop by 1.4%, while the good trade balance index recorded a deficit of £14.3 billion pounds, better than forecasts of £15.2 billion.

Investors are still monitoring the new Covid-19 lockdown on the British economy, especially as restrictions will continue until mid-February.

As of 20:39 GMT, GBP/USD fell 0.2% to 1.3850, after hitting a high of 1.3864 and a low of 1.3776.