02.08.202110:32:00UTC+00Gold Slips As Equities Rise

Gold prices fell on Monday as improved risk appetited for riskier assets prompted investors to move out of the so-called safe-haven asset.

Spot gold slipped 0.2 percent to $1,809.64 per ounce, while U.S. gold futures were down 0.3 percent at $1,812.15 per ounce.

Equity markets rose across Asia and Europe despite the latest batch of manufacturing reports from the region proving to be a mixed bag.

U.S. stock futures traded higher in early pre-market trade as earnings optimism prevailed and some of the concerns about China's regulatory crackdown eased.

Risk appetite was also boosted after the U.S. Senate on Sunday finalized the text of its $1 trillion bipartisan infrastructure bill. The legislation will next be introduced to the Senate.

The dollar held near one-month low as investors now looked ahead to the release of a key U.S. employment report later in the week to gauge the health of the labor market.

Fed Chair Jerome Powell said last week interest rate hikes were "ways away" and the job market still had "some ground to cover."

In the case of a stronger-than-expected July U.S. non-farm payrolls report, investors could take the view that the Fed would be forced to taper its stimulus measures sooner-than-expected.