“Gold eased on Monday, weighed by weaker shares as investors focused on prospects for aid for Greece and as speculators booked profits after prices rallied to their highest in more than a month in the previous session.
Speculators also turned their attention to negotiations between the White House and Congress this week to avoid the U.S. "fiscal cliff", a series of automatic tax hikes and spending cuts worth $600 billion set for January, which could tip the economy back into recession.
Gold fell as European shares and the euro edged lower as investors nervously awaited the outcome of the latest round of talks to provide emergency loans to keep Greece financially afloat.
Spot gold last fell around 0.3 percent to trade about $1,748 after rising to $1,754.10 on Friday, its strongest since Oct. 12.
U.S. gold futures were 0.2 percent lower near $1,747 per ounce.
Gold has gained around 11 percent this year, mainly due to expectations U.S. monetary policy will remain loose.
Spot gold is expected to range between $1,746 and $1,755 per ounce for one or two trading sessions before rising above this range, according to Reuters market analyst Wang Tao.
Gold importers in India, the world's biggest buyer of the metal, refrained from buying new stock for the wedding season as prices rebounded to near their peak on a weaker rupee.
Analysts and traders had expected demand to strengthen during the holiday season in the last quarter of the year, with top consumers India and China, which between them account for nearly half of global gold demand, leading the way.
Silver was last 0.2 percent lower near $34 an ounce.
Spot platinum fell 0.8 percent around $1,602 an ounce, while spot palladium was last 0.1 percent lower at $661 an ounce.”