Gold prices edged lower on Monday, pressured by firmer equities and a buoyant dollar after a bill to overhaul the tax system in the United States moved a step closer to ratification. Spot gold was down about 0.1 percent at $1,254.40 an ounce at 0346 GMT. U.S. gold futures were little changed at $1,257.70 an ounce.
The dollar held modest gains on Monday, having received a lift after top U.S. Republicans said they expected Congress to pass a tax code overhaul this week. A Senate vote could come as early as Tuesday and President Donald Trump aims to sign the bill before the week is out.
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