U.S. dollar decline and tension between the United States and Iraq

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      Gold prices stabilised Monday, above the four-month low reached last day, supported by expectations that the weakening dollar and the United States will further restrict Iranian oil exports.
At 1747 GMT, spot gold rose 0.1% to $1,275.62 an ounce. Spot gold hit $1,270.63 on Thursday, the lowest level since December 27. The market closed for one day last Friday.
U.S. gold futures closed up 0.1% at $1,277.60 an ounce.
The United States "took tough action without extending exemptions. Some geopolitical risks and hedging needs "drive gold prices," says Bob Haberkorn, senior market strategist at RJO Futures.
He added that the weakening dollar and falling stock markets also supported gold prices.
Oil prices rose to more than $74 a barrel on Monday, the highest level since November last year, as the United States announced further restrictions on Iranian oil exports.
Wall Street stocks fell as technology stocks dragged them down, helping to increase safe-haven buying of gold.
"The market started this week with some risk aversion as the United States increased its economic sanctions against Iran," Jim Wyckoff, senior analyst at Kitco Metals, said in a report.
The dollar fell 0.2%, making gold cheaper for investors holding other currencies.


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