Brent crude was down by 0.24% to trade at $55.12 barrel, and WTI futures inched down by 0.10% to $52.22 a barrel.
West Texas Intermediate, lost 1.6%, at $52.27 per barrel. It was WTI's worst daily plunge slide since last Friday when it fell 2.2%.
Spot gold was down by 0.4% to trade at $1,862 per ounce after hitting its highest since Jan. 8 at $1,874.50 earlier in the session.
Oil prices drifted lower after digesting a surprising build in U.S. crude oil inventories that re-ignited fuel demand anxiety.
More COVID-19 relief programs pushed the yellow metal’s appeal up as an inflation hedge.
Brent oil futures gained 0.68% to trade at $56.28 a barrel adding to yesterday's 2.1% gain.
Brent oil crude futures gained 0.40% to trade at $54.95 while WTI futures were dropped 0.23% to trade at $52.30 a barrel.
Gold futures were up 0.38% at $1,836.80/ounce after hitting the lowest point since December 2 yesterday
Brent crude futures dropped about 1%, to $54.65 a barrel, after losing 2.3% on Friday.
Gold futures prices at their most recent trading session settled at $1,829.90 an ounce, down by 1.2%.