Gold slipped to a one-week low on Monday, adding to a near 2 % loss sustained in the previous session on renewed expectations of a U.S. interest rate hike after stronger-than-expected payrolls data. 

Spot gold  was down 0.23 % at $1,332 an ounce at 1117 GMT, after dipping to $1,329.58, the lowest since July 27.

U.S. gold  for December delivery inched 0.45 % lower to $1,338.40 an ounce.

SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, rose by 7.1 tonnes to 980.3 tonnes on Friday, its biggest one-day inflow since late June. Visit Us http://www.ripplesadvisory.com/agri-commodity.php  or Get Free Trials Just Give One Missed Call @98-27-80-80-90.

 "Gold remains overbought ... evidenced by large net long positions in Comex and ETFs, and we feel is vulnerable to further downside in the short term," MKS said in a note.

Among other precious metals, silver was down 0.2 % at $19.67 an ounce after hitting a near two-week low at $19.56. It fell 3 percent on Friday.