Gold prices dipped on Monday as the U.S. dollar soared to an over two-year high after a robust jobs report last week cemented expectations the Federal Reserve will proceed with caution with cutting interest rates this year.

Gold prices continue to rally following the US jobs data, along with the US Dollar Index and US Treasury yields.

Gold has demonstrated remarkable resilience in the face of a surging U.S. dollar and rising Treasury yields. The surge in the dollar and Treasury yields has been driven by rapidly rising inflation expectations as well as growing concerns about the U.