By Gina Lee

Investing.com – Gold was down on Monday morning in Asia, remaining near a three-week low as investors digest the latest U.S. jobs report and now turn their attention to inflation data.

They were at $1,791.05 as of 10:51 ET (11:51 GMT), after falling to their lowest level since Friday, Dec. 16 (1,782.10)

U.S. Treasury yields rose last week after a more hawkish U.S. Federal Reserve Stance as per the minutes of its December 2021 meeting.

According to the U.S. employment report, December was lower than anticipated at 199,000 and lower than expected 3.9%.

Investors are now awaiting inflation data (including the ), which is due to be released later this week. On Wednesday, China will release its price and inflation indexes.

Fed funds futures already price a nearly 90% probability of an increase in Fed interest rates by March 2022, and more than 90% of another hike by June 2022. Central bank may also increase its asset tapering.

The Fed’s officials will be providing comments to investors throughout the week. They include Raphael Bostic from Atlanta, Kansas City Fed President Esther George and James Bullard of St. Louis. Richmond Fed President Thomas Barkin, Philadelphia Fed president Patrick Harker, Charles Evans from Chicago, Fed President Charles Evans and John Williams, New York Fed President.

Rising appears to be on the radar as well. Discussions suggest that talks are not in progress and the possibility of an armed conflict.

Indian dealers were forced to increase their premiums over the last week because of the rising demand from physical gold. Meanwhile, the Lunar New Year Holiday in Singapore has brightened the sales outlook.

The price of silver, which was $22.29/ounce, was unchanged, while platinum was 0.1% higher, and palladium 0.3% lower.