Gold ended lower on Monday after pressure from stronger-than-expected U.S. home sales data pushed prices below a key level of $1,300 an ounce, while platinum outperformed as a strike by South African miners ground on.
The stand-off between Russia and the West over Ukraine helped gold rebound towards the end of last week from the 2-1/2-month low it hit on Thursday at $1,268.24. It reached as high as $1,306.11 early on Monday but failed to hold onto that level.
U.S. gold futures for June delivery settled 0.1 percent lower at $1,299.00 an ounce.
Spot gold was last down 0.3 percent to $1,298 an ounce, having earlier touched a session low of $1,292.30.
Strong economic data tends to pressure gold, because it supports expectations the U.S. Federal Reserve will continue to taper its extraordinary stimulus measures as well as boosting the dollar, in which the precious metal is priced.