<p>Gold eased on Monday as a towering US dollar pressured demand for greenback-priced bullion and kept it pinned near nine-month lows seen last week.</p>.<p>Spot gold dipped 0.3 per cent to $1,737.29 per ounce by 0742 GMT. US gold futures also fell 0.3 per cent to $1,736.40. The dollar rose about 0.4 per cent and was within touching distance of Friday's 20-year peak, keeping overseas buyers away from gold.</p>.<p>"While gold prices remain below $1,753/oz it seems a move down to $1,720 is on the cards. Although there is some support around $1,730 ... given the bearish trend overall, any upside is likely to be a retracement, at best," said Matt Simpson, senior market analyst at City Index.</p>.<p>Bullion marked a fourth straight weekly loss on Friday, having hit its lowest since late-September a few sessions prior, hurt by the dollar's ascent and bets for steep interest rate hikes gaining traction after healthy US jobs data. "Gold has had a large move lower, and there comes a point where the market needs to pause for breath. And that's what we are seeing on gold right now," Simpson said.</p>.<p>Atlanta Federal Reserve Bank President Raphael Bostic, until recently among the US central bank's most dovish policymakers, on Friday said he "fully" supports another three quarters of a percentage point interest rate rise at the Fed's next policy meeting later this month. Higher interest rates and bond yields increase the opportunity cost of holding non-yielding bullion. Benchmark US 10-year Treasury yields pulled back from the previous session's over one-week high, likely limiting losses in gold.</p>.<p>Meanwhile, shares slid on Monday as investors braced for a US inflation report that could force another super-sized hike in interest rates. Spot silver fell 0.7 per cent to $19.17 per ounce, and platinum slipped 1.6 per cent to $883.13. Palladium dropped 1.9 per cent to $2,141.83, after rising nearly 10 per cent on Friday. </p>
<p>Gold eased on Monday as a towering US dollar pressured demand for greenback-priced bullion and kept it pinned near nine-month lows seen last week.</p>.<p>Spot gold dipped 0.3 per cent to $1,737.29 per ounce by 0742 GMT. US gold futures also fell 0.3 per cent to $1,736.40. The dollar rose about 0.4 per cent and was within touching distance of Friday's 20-year peak, keeping overseas buyers away from gold.</p>.<p>"While gold prices remain below $1,753/oz it seems a move down to $1,720 is on the cards. Although there is some support around $1,730 ... given the bearish trend overall, any upside is likely to be a retracement, at best," said Matt Simpson, senior market analyst at City Index.</p>.<p>Bullion marked a fourth straight weekly loss on Friday, having hit its lowest since late-September a few sessions prior, hurt by the dollar's ascent and bets for steep interest rate hikes gaining traction after healthy US jobs data. "Gold has had a large move lower, and there comes a point where the market needs to pause for breath. And that's what we are seeing on gold right now," Simpson said.</p>.<p>Atlanta Federal Reserve Bank President Raphael Bostic, until recently among the US central bank's most dovish policymakers, on Friday said he "fully" supports another three quarters of a percentage point interest rate rise at the Fed's next policy meeting later this month. Higher interest rates and bond yields increase the opportunity cost of holding non-yielding bullion. Benchmark US 10-year Treasury yields pulled back from the previous session's over one-week high, likely limiting losses in gold.</p>.<p>Meanwhile, shares slid on Monday as investors braced for a US inflation report that could force another super-sized hike in interest rates. Spot silver fell 0.7 per cent to $19.17 per ounce, and platinum slipped 1.6 per cent to $883.13. Palladium dropped 1.9 per cent to $2,141.83, after rising nearly 10 per cent on Friday. </p>