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Gold prices fell early on Monday on a firmer U.S. dollar, but remained near a one-month peak notched in the session earlier on uncertainty over progress on a potential overhaul of the U.S. tax code.
Spot gold slid 0.2 percent to $1,291.71 an ounce. On Friday, the precious metal bounced nearly 1.3 percent to record a one-month high of $1,297.
According to a senior White House aide, U.S. President Donald Trump would not insist on including a repeal of an Obama-era health insurance mandate in a bill intended to enact the largest overhaul of the tax code since the 1980s.
The dollar index, which tracks the greenback versus a basket of six major peers, added 0.3 percent.
Spot gold may retest resistance at $1,298 per ounce, a break above which could lead to a gain to the next resistance level at $1,309, according to Reuters technical analyst Wang Tao.
Hedge funds and money managers increased their net long positions in COMEX gold and silver contracts in the week to Nov. 14, data showed.
Among other precious metals, silver dropped 0.8 percent to $17.17 after notching a one-month peak of $17.373 in the session earlier.
Platinum pulled back from Friday's near-two month high of $954.30 and was 1.1 percent lower at $939.99. Palladium climbed 0.2 percent to $994.85 per ounce.
