Gold prices dipped on Monday as the U.S. dollar held firm, with traders positioning themselves ahead of a much awaited Federal Reserve rate-hike decision due this week, APA-Economics reports citing Reuters.
Spot gold was down 0.4% at $1,981.96 per ounce by 0254 GMT. U.S. gold futures fell 0.4% to $1,991.70.
The dollar index rose 0.1%, making greenback-priced bullion more expensive for overseas buyers.
Among other precious metals, spot silver fell 0.1% to $25.00 per ounce and platinum lost 0.7% to $1,066.74 per ounce.
Palladium inched 0.3% lower to $1,497.39.