The gold pries have fallen on Monday, continuing its fall from Friday as there was increased demand for dollars and decreased demand for gold in global markets.

The demand for gold was boosted by continuing uncertainty in the Eurozone and strong U. S. jobs data indicating a recovery. The gold futures for February delivery were down 0.39% at $ 1,610.45 a troy ounce on the Comex division of the New York Mercantile Exchange.

The figure was likely to be around the level of $ 1,594.05 a troy ounce. The Bureau of Labor Statistics had said that the economy added a net 200,000 non-farm payrolls in December, which is much more than the estimated gain of 150,000.

The report increased demand for the US dollar significantly and significant decreased the demand for gold, leading to a fall in prices. French President Nicolas Sarkozy and German Chancellor Angela Merkel are expected to meet on 9 January to discuss ways to resolve the ongoing crisis in the Eurozone. They wish to act on the pledge among EU nations to better coordinate their fiscal policies.

Due to the uncertainty in European markets, more investors are choosing to park their money in the US dollar and are indirectly affecting the prices of gold.