The dollar rose in trade against most currencies as investors bet that the sell off in Friday's session following the September employment report was overdone.
Spot gold fell to $732.80/733.60 by 2:15 p.m. EDT from $741.10/741.90 in New York late on Friday. Gold rallied to a 28-year high of $747.65 last Monday before a rebound in the dollar sparked selling from investors.
Most-active December gold on the COMEX division of the New York Mercantile Exchange settled down $8.50 or 1.1 percent at $738.70 an ounce.
It hit an intraday high of $748.50 and had hit a session-low of $736.70.