Gold hit its lowest in over two weeks early on Monday, as the dollar climbed to a more than three-month high versus the yen after Japan's ruling bloc scored a big win in Sunday's election, leaving the door open to ultra-loose monetary policy for longer. 

Spot gold was down 0.4 percent at $1,275.70 an ounce by 0313 GMT, after hitting its lowest since Oct. 6 at $1,273.80 earlier in the session. U.S. gold futures for December delivery fell 0.3 percent to $1,277.20 per ounce.

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