Gold remained under pressure at the pre-opening of London’s trading session on Monday.
Pfizer Inc could have a COVID-19 vaccine available in the world's largest economy by the end of 2020.
Gold prices drifted lower as the greenback gained some strength at Asia's trading session.
The price plunge is coming on sentiments that there was little or no exclusive feature seen on the new iPhone model.
Brent oil futures prices lost 0.2 to trade at $42.35 and West Texas Intermediate (WTI ) fell 0.27% to trade at $40.09.
A rapid rise in U.S tech stocks saw the precious metal losing its shine.
Trading activity in the currency market has been feeble overall, due to a holiday in the U.S.
Spot gold, known for tracking bullion prices in bullion, gained 1.8% to settle at $1,928.31.
Anticipation of further stimulus measures to support the U.S. economic recovery has set the greenback into retreat mode.
Precious metal futures gained over 1% to trade at $1917/ounce surging above the $1.900-mark.