Gold retreats in spot trading to $4,322 per ounce on profit-taking

Gold prices fell on Monday as investors sold to take profits after prices hit a seven-week high in the previous session, while markets awaited U.S. inflation data in search of new indicators regarding the Federal Reserve’s interest rate trajectory.

Spot gold fell 0.5 percent to $4,322.28 per ounce by 0200 GMT. Prices touched their highest level since June 17 on Friday following weaker-than-expected U.S. jobs data. U.S. gold futures declined 0.4 percent to $4,381.60 on Monday.