Holdings in the SPDR Gold Trust, the biggest gold-backed ETP shrank the most in over five weeks, declining 3.89 metric tons on Monday, data showed.
Investors are cautious ahead of the US non-farm payrolls data to be released later this week which may determine the US Fed's next move.
Gold futures for April 2014 contract, at MCX, is trading at Rs. 28,380 per 10 grams, down by 0.55 per cent, after opening at Rs. 28,610, against the previous closing price of Rs 28,536. It touched an intra-day low of Rs 28,350. (At 11:05 AM).
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