Gold lowers

Bengaluru Gold hit its lowest in over two weeks on Monday, as the dollar climbed to a 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 $1,275.81 an ounce by 0637 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 $1,277.30 per ounce. "This move is just really because of the dollar strength," said Yuichi Ikemizu at ICBC Standard Bank in Tokyo.

"There´s no news on North Korea this past week or so. If some news comes out, gold might be supported but at the moment people are just watching the dollar." Geopolitical risks can boost demand for safe-haven assets such as gold and the Japanese yen.