Gold fell to its lowest level in about 15 months on Monday after expected better jobs data from the United States boosted the dollar, damping appetite for safe haven for slugs and pushing silver and platinum at least several years.
Gold, which often influences other precious metals, has also failed to capitalize on geopolitical tensions caused by the military conflict between Russia and Ukraine, and the rise of Islamic State in Iraq and Syria.
Gold Cash had fallen 0.20 percent to $ 1,188.37 an ounce at 8:45 a.m. It earlier fell to $ 1,183.46 an ounce, its lowest level since June 2013 Platinum hit its lowest level since 2009, silver fell to its lowest level since 2010, and palladium hit a 8 month low.
"A strong dollar is an important problem for gold. Sentiment is very bearish, but I hope that some kind of rebound," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong, which linked the support at $ 1.180 ounce.
"There is some physical buying, but premiums have not changed. We have to see what happens at the end of the day. If demand is coming, of course, that will drive up premiums."
Premiums for gold traded at $ 1.20 to $ 1.60 an ounce to spot London prices, unchanged from last week, despite a sharp fall in gold prices in cash.
The absence of main gold consumer China is weighing on the physical market, which usually sees a pick up in demand from jewelers and retail investors when prices fall.
Chinese markets are closed for national holidays and will reopen on Wednesday.
USA gold was at $ 1,189.00 an ounce, down 0.33 percent.
The dollar started the week on a strong note in early Asian trade on Monday, holding near a four and a half years touched after an upbeat report on nonfarm payrolls in the United States increased speculation that the Reserve Federal may raise interest rates in mid-2015 or earlier.
The Labor Department data on Friday showed nonfarm payrolls got 248,000 last month and the unemployment rate fell to 5.9 percent, the lowest since July 2008, which stresses that the economy continues to improve.
In Tokyo, sellers pushed up premiums for gold bars 25 cents to see London prices from scratch last week to offset the fall in world prices.
"Right now, demand is not good. But maybe when the vacation is over in China, the premiums may rise further," said a dealer in Tokyo.
Markets in Singapore, a key trading center ingots in Southeast Asia, were also closed for a public holiday.
