Gold prices decreased on Monday as the dollar strengthened, increasing the likelihood of a US Federal Reserve interest rate hike. The Federal Open Market Committee (FOMC) is scheduled to meet later this month, and the dollar index (DXY) reached close to 103 against major currencies. Gold futures on the MCX were trading at Rs 58,092 per 10 grams, down 0.20%, while silver futures were down 0.06% at Rs 69,986 per kg. The decline in gold prices is attributed to expectations of rising interest rates and a lack of safe-haven demand.