Gold prices edged higher during Asian trading on Monday as investors turned their attention to United States inflation data due later this week.
By 4:25 pm AEST (6:25 am GMT), spot gold was up 0.1% at US$4,344.82 an ounce.
Bullion prices gained 7.2% last week as geopolitical tensions in the Middle East eased and markets responded to a weaker-than-expected U.S. nonfarm payrolls report.
The data showed the U.S. economy unexpectedly shed 23,000 jobs in July, compared with expectations for an increase of 80,000.
The unemployment rate fell to 4.1%, although the decline was largely driven by a further reduction in the number of people working or seeking employment.
Following the weak labour market data, markets reduced their expectations for a Federal Reserve interest rate hike in September to 46.1%, from 67.2% a week ago, according to the CME Group FedWatch Tool.
Iranian Foreign Minister Seyyed Abbas Araghchi reportedly said on Sunday that Tehran was close to reaching an agreement with Oman on a new mechanism for managing maritime traffic through the Strait of Hormuz.
However, Araghchi also stressed that the key waterway would not reopen until Washington met additional conditions.
