On the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded down 0.27% at USD1,662.85 a troy ounce. Gold futures were likely to test support at USD1,639.75 a troy ounce, Friday's low, and resistance at USD1,682.75, Wednesday's high.
Gold firmed earlier on reports the precious metal is in demand among central banks around the world.
Meanwhile, comments from Federal Reserve Bank of New York President William Dudley that the U.S. central bank cannot rule out further monetary easing sent the price rising earlier as well until profit-taking kicked in.
Specifically, the Federal Reserve cannot rule out launching a third round of quantitative easing, which are asset purchases from banks that pump liquidity into the financial system, weakening the greenback in the process.
The Fed has launched two rounds so far since the downturn, injecting trillions of dollars into the economy to spark more robust economic activity.
While the Fed has no concrete plans to prime the economy via easing, it hasn't closed the door on the idea as well.
Talk of such easing sends gold higher and the dollar falling.
Elsewhere on the Comex, silver for May delivery was down 0.14% and trading at USD32.910 a troy ounce, while copper for May delivery was down 0.21% and trading at USD3.900 a pound.
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