Spot gold fell nearly 3% on Monday while spot silver plunged 5%, pressured by rising oil prices, higher bond yields and renewed expectations that the Federal Reserve may raise interest rates further. KCM Trade Chief Market Analyst Tim Waterer said uncertainty over oil supplies had pushed prices higher and brought inflation back into focus for investors. Markets this week will assess U.S. job openings, the ADP employment report, the PCE inflation report and the nonfarm payrolls report. Waterer said stronger-than-expected inflation or employment data could lift bond yields further and put additional pressure on gold.