Spot gold was down 0.2% at $1,965.50 per ounce by 0535 GMT after hitting its lowest since Oct. 24 on Tuesday.
The dollar extended gains against its rivals, making greenback-priced gold more expensive for other currency holders.
So, there's not much of driving catalysts for gold this week," said Ilya Spivak, head of global macro at Tastylive.
Investors now look forward to comments from Fed Chair Jerome Powell, who is set to speak on Wednesday and Thursday.
Palladium dropped 2.5% to $1,029.12, after hitting its lowest since October 2018 at $1,016.06 earlier in the session.
Persons:
Ilya Spivak, Jerome Powell, Powell, Spivak
Organizations:
Federal Reserve, Economic, of New
Locations:
U.S, ., of New York, FOMC