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Gold prices eased on Monday as US dollar strength and stock market rally, hopes of stimulus from major central banks alleviate fears of a sharp slowdown in global economy .
Spot gold was down 0.5% to $ 1,506 an ounce at 0114 GMT.
Gold futures in the US fell 0.4% to settle at $ 1,517.60 an ounce.
The dollar index, compared to a basket of six major currencies, was close to the two-week high reached on Friday.
The broadest MSCI index of Asia Pacific shares out of Japan gained 0.25%.
Wall Street shares rebounded Friday after a report said the German government would be willing to take on new debt and launch stimulus measures to counter a possible recession.
On Saturday, the Chinese central bank unveiled a policy rate reform aimed at reducing corporate borrowing costs and supporting the slowdown in the economy.
Investors are waiting for the Fed's Jackson Hole Symposium this week. Traders expect about 69% chance of a 25 basis point cut in September.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell by 0.10 percent to 843.41 tons on Friday.
Hedge funds and fund managers lowered bullish positions on COMEX gold and net long positions on money contracts during the week through August 13, the Commodity Futures Trading Commission (CFTC) said Friday .
Last week, high prices spurred Asian consumers to resell physical gold in order to make a profit.
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