Expectations that the Fed can further reduce your monthly bond purchase program pushed the dollar as demand for safe haven currencies like the yen was recorded.
Gold retreated from 10-week highs seen during the night at the weakness of the stock, as traders took profits in the precious metal ahead of a key meeting of the Federal Reserve of the United States this week.
Expectations that the Fed can further reduce your monthly bond purchase program boosted the dollar, while demand for safe-haven currencies such as the yen continued to sell-off in emerging markets was recorded.
Spot gold is traded at $ 1,260.30 an ounce, a decline of 0.7%, after hitting overnight its highest since mid-November to $ 1,278.01 an ounce.
Meanwhile, futures for February delivery fell U.S. $ 4 an ounce to $ 1,260.30.
The metal had difficulty keeping gains last week before a policy meeting two days that the Fed will start tomorrow.
A fall of 2.3% in global equities last week helped boost gold back IRA for the fifth consecutive week, mostly Streak weekly gains since mid-2012.
Stock markets extended losses, as concerns over the economic slowdown and the informal banking sector in China, with expectations that the Federal Reserve will further reduce its monetary stimulus measures, are putting pressure on emerging markets that depend on external financing.
Among other precious metals, silver fell 0.4% to $ 19.77 an ounce. Spot platinum lost 0.6% to $ 1,413.49 an ounce, while palladium CEDEO 0.9%, to $ 725.50 an ounce.