Gold prices fell more than 1% on Monday as investors waited for clarity from the White House on potential country-specific tariffs on bullion bars, while focus shifted to U.S. inflation data for clues to the Federal Reserve's rate path.

The global gold market has been thrown into fresh turmoil after a US government agency indicated that bullion would not be exempt from tariffs.

Gold prices fell from a record high Friday after the White House said it will clarify "misinformation" about the precious metal facing tariffs.