Gold dropped on Monday as the dollar rose broadly and stock markets rebounded, with investors keeping a sharp eye on this week's U.S. Federal Reserve meeting for signals on the latest plans for its bond buying program.
The Fed meets on Tuesday and Wednesday against a backdrop of stronger-than-expected data on U.S. retail sales and the job market, leading to speculation that its monthly stimulus could be trimmed.
"You could really argue that sellers have the upper hand at the moment because some recent dollar weakness hasn't really lent support to gold," Saxo Banksenior manager Ole Hansen said.
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