A U.S. payrolls report on Friday will be even more closely watched than usual. A strong number, after a surge in job growth in October, could cement expectations that the Fed will deliver its first hike in almost a decade.
"A number close to the 200,000 mark will be sufficient to confirm in the Fed's mind that the time is right to act," ICBC Standard Bank analyst Tom Kendall said.
The European Central Bank policy meeting on Thursday will also be eyed for impact on the currency markets. The ECB is widely expected to ease policy.
Investors are pulling money out of bullion funds, exacerbating the sell-off in gold.
Assets in SPDR Gold Trust, the world's top gold-backed exchange-traded fund, fell to their lowest since September 2008 on Friday.
Platinum has lost 16 percent in November and fell 1.6 percent to a seven-year low at $820.60 per ounce on Monday.
Silver was up 0.2 percent at $14.07 but was set for a 9.5 percent monthly loss.
Palladium has lost 19 percent for the month. For the session, it was down 1.1 percent at $541.75 an ounce.