The price of gold fell slightly on Monday morning to around $1,815 a troy ounce, Report informs.
At the same time, the precious metal lost more than 1.2% of its value last week amid expectations around a tougher US Federal Reserve System (FRS) policy.
The price of April gold futures on the New York Comex exchange fell by $2.95, or 0.16%, to $1,814.15 per troy ounce. Over the past week, gold has dropped in price by 1.27%, from $1,840. May silver futures fell 1.25% to $20.675 an ounce.
The Fed's key rate policy is one of the main factors for gold. In general, strong macro data from the US since the beginning of the year reinforced expectations that the regulator may keep rates high for longer.
According to the CME Group, 72.3% of analysts expect a new Fed rate hike in March - again by 25 basis points, to 4.75-5% per annum.
Gold is sensitive to macro statistics from the US and signals from the Fed, which are reflected in the dollar. In turn, this affects the price of gold.