The price of gold edged down Monday morning amid a steady U.S. dollar.
Gold for April delivery, the most actively traded contract, inched down $2.10 to $1,358.30 an ounce. Last week, gold added nearly $12 amid inflation concerns after Chinese officials raised interest rates for the second time in six weeks.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,225.53 tons.
Meanwhile, the U.S. dollar was steady against its major counterparts, as concerns over the sovereign debt crisis in the euro zone weighed on sentiment ahead of pivotal bond auctions later in the week.
The greenback was advancing to a 1-month high versus the euro and ticking higher against sterling. The buck was hovering around its 1-month high versus the Swiss Franc and the yen.
Earlier today, Japan reported that its GDP fell less-than-estimated in the last quarter 2010, declining by a seasonally adjusted 0.3 percent, after rising by a revised 0.8 percent in the third quarter 2010, and beating expectations for a decline of 0.5 percent.
Elsewhere, the price of silver ticked lower and platinum edged up in morning deals.
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