Gold price stalls as UBS tells buyers to 'get out' before losses worsen

Bullion had been clawing back some ground over the past week after better-than-expected US jobs data sent prices tumbling on bets Federal Reserve may start paring back massive monetary stimulus soon

Gold slipped after finishing strongly last week, with UBS Group AG warning investors to rethink their bullion holdings as the global economy recovers and the greenback strengthens into next year.

Bullion had been clawing back some ground over the past week after better-than-expected U.S. jobs data sent prices tumbling on bets the Federal Reserve may start paring back massive monetary stimulus soon. This week, investors will parse through a speech by Chair Jerome Powell, as well as minutes of the Fed’s latest meeting, for more clues about the likely timeline for tapering. Figures for U.S. retail sales are due Tuesday.