Gold mired in negative territory as the dollar extended gains after positive economic data and ahead of impending U.S. budget cuts.
Gold headed towards its longest run of monthly declines in more than 16 years, as an improved economic backdrop and lower inflation concerns continued to blunt its appeal to investors.
Gold fell 1 percent, nearly erasing all of the previous session's gains, hit by disappointment over a lack of new Federal Reserve stimulus and deflation worries over across-the-board deep U.S. spending cuts.
Gold rose 1.3 percent, its biggest one-day gain in three months, as Federal Reserve Chairman Ben Bernanke's defense of U.S. bond-buying stimulus boosted bullion's inflation-hedge appeal.
Gold rose on Monday, as euro zone fears related to an uncertain outcome for Italy's election lifted safe-haven buying.
Gold retreated under $1,600 an ounce on Friday, paring earlier gains in line with the euro and stock markets, and stayed on track for a second straight weekly loss.
Gold rose 1 percent on Thursday as weaker U.S. economic data boosted hopes that the Federal Reserve will maintain its monetary stimulus, allaying fears that the U.S. central bank may stop buying assets soon.
Gold fell below $1,600 an ounce to a seven-month low, as rumors of a troubled hedge fund forced to liquidate positions triggered a sell-off of commodities.
Gold reversed earlier gains on Tuesday, as physical buying from Asia that drove a recovery from six-month lows eventually gave way to selling.
Gold slipped Monday but was off its six-month low, helped by buying from Asia, where Chinese participants returned to the market from a one-week holiday.
Gold tumbled to a six-month low on Friday, breaking through technical support near $1,630 an ounce, as the euro weakened against the dollar ahead of a G-20 meeting.
Gold fell to a six-week low on renewed economic worries over the euro zone, which weighed down on bullion's inflation-hedge appeal.
Gold fell below $1,650 an ounce after data showed disappointingly small growth in U.S. retail sales in January, while some investors stayed at the sidelines ahead of a G20 meeting later this week, which is expected to set the tone for the gold trade.
Gold futures settled nearly unchanged at $1,649 per ounce, as the dollar fell following a statement from the Group of Seven industrialized countries reaffirming commitment to market-determined exchange rates.
Gold fell to a one-month low on Monday, as investment appetite for the metal was hurt by a sluggish price performance in the year to date.
Underlying sentiment in bullion and the euro was weak after the European Central Bank highlighted downside risks to the region's economy.
Gold eased after the European Central Bank (ECB) left interest rates unchanged and as the focus turns to an imminent press conference that could give further clues on monetary policy.
Gold edged higher, recovering early losses, as stocks came under pressure from renewed concerns over the euro zone economy, and on caution ahead of a European Central Bank meeting later this week
Gold retreated from an initial rally as solid gains in U.S. equities and an improving economic outlook weighed on the metal's safe-haven appeal.
Platinum rose after mostly upbeat U.S. data signaled the economic recovery is gaining traction, with a soft earnings update from the world's biggest platinum miner and strong monthly U.S. car sales reports adding to support.