Producers of metals and other raw materials fell amid trepidation ahead of the Federal Reserve's policy statement.
The dollar recouped some of its recent losses against rival currencies, amid risk aversion.
Gold futures slipped after logging six straight weekly gains.
"Gold's main kryptonite is if the Fed can't control inflation and they need to tighten much more than markets are expecting," said Edward Moya, senior market analyst at foreign-exchange brokerage Oanda Group.
The eurozone's economic sentiment indicator, which captures business and consumer confidence, rose to 99.9 in January from an upwardly revised 97.1 in December, data from the European Commission showed Monday.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-30-23 1658ET
