Gold futures fell Monday to start both the new week and month, pressured by a stronger dollar after President-elect Trump warned BRICS nations that he would require commitments that they would not move to create a new currency.

President-elect Donald Trump has upped his tariff threats, and some nations have already adjusted their strategies in response. The Trump team is still working on a deal with Mexico’s president to end the 25 percent tariff threat on Canadian and Mexican goods but the lack of progress has caused concern for some American business owners.

President-elect Donald Trump said he would require countries that are part of BRICS — a China- and Russia-backed group of emerging economies — to commit to not creating new currency or face 100% tariffs during his administration.