Gold price is falling by more than 1% on Monday following Friday’s NFP and ahead of crucial US consumer inflation numbers. XAU/USD printed a fresh six-day low near $1,980 and then trimmed losses. 

A stronger US Dollar and higher US yield weigh on the yellow metal. The US Dollar Index is having the biggest daily gain in weeks and trades at 102.75. At the same time, the US 10-year bond yield is at 3.43%, and the 2-year is back at 4.00%. 

XAU/USD bottomed at $1,981, the lowest level since last Tuesday. It is hovering below $1,990, with a bearish bias in the short term, extending the correction from the recent top at $2,031.