Gold edged up on Monday after robust US economic data lifted prices in the previous session, but gains could be capped by a firmer US dollar, as well as lingering concerns about Greece's debt woes and a possible bailout for Spain. Gold climbed $4.24 an ounce to $1,715.00, well below an 11-month high of above $1,795 an ounce hit in early October and an all-time high of around $1,920 struck in September last year.
US gold for December added $3.80 an ounce to $1,715.70. Gold is on track to decline in October for the first month in five after failing to break the psychological level of $1,800 and the excitement ignited by the Fed's latest programme of purchasing mortgage-backed debt subsided.
The physical gold market waited for main consumer India to return to buy more bullion ahead of Diwali, the Hindu festival of lights, next month. "Yes, there's buying interest from India. I've seen them buying more gold from Dubai and also the local market," said a physical dealer in Singapore.