Gold falls to over 10-month low on Fed rate hike bets

Gold prices touched their lowest in over 10 months on Monday, dragged down by expectations that a possible US rate hike this week would curb demand for the safe-haven asset.

Earlier in the day, spot gold hit its lowest since Feb. 5 at $1,153.93 an ounce, before partially recovering to $1,158.29 an ounce by 0656 GMT. It fell about 1 percent in the previous session.