Gold prices fell over 1 on Monday, with spot gold slipping 0.9 to $3,289.97 an ounce. The dollar index rose 0.3, reducing gold’s appeal to holders of other currencies. UBS analyst Giovanni Staunovo said easing trade tensions and reduced Fed concerns are lowering safe-haven demand, but a Fed rate cut could drive gold back to $3,500 an ounce. Gold hit a record $3,500.05 per ounce last week due to trade tensions, central bank buying, and strong investment demand.