Gold price declined on a possible interest rate by the Fed in September. Gold lost 2.2% last week as market participants eyed the U.S. economic data.

Some Fed officials said at a conference at Jackson Hole, Wyoming, at the weekend, that the Fed could raise its interest rate this year despite the recent turbulences.

Market participants are awaiting the release of the U.S. ADP Employment report, ISM manufacturing and services PMIs, and the labour market data this week.

October futures for gold on the COMEX today fell to 1124.80 dollars per ounce.