By Rahul Paswan (Reuters) -Gold prices fell nearly 1% on Monday after rising to an all-time high in the previous session, as the U.S. dollar strengthened on mounting fears of a global trade war following U.

Trump's announcement of a temporary tariff pause for Mexico and Canada boosted market sentiment. This reduced the demand for safe-haven assets like gold. Simultaneously, last week, the Federal Reserve's hawkish stance on interest rates provided further momentum for the USD.

Gold rose to a new all-time high amid a rush to safer assets after US President Donald Trump imposed tariffs on Canada, Mexico and China, while threatening to do the same against the European Union.