Spot gold was mostly unchanged at $1,322.82 an ounce, as of 0234 GMT. On Monday, it rose 0.5 percent in its biggest one-day percentage gain in more than a week.
U.S. gold futures were down 0.1 percent at $1,324.6 per ounce.
• "We suspect that gold has pretty much decoupled from equities for much of the last week and is instead tracking the dollar's ups and downs more closely," said INTL FCStone analyst Edward Meir.
• The dollar's index against a basket of six major currencies extended modest losses suffered overnight and was last down 0.1 percent at 90.126.
On Monday, it fell 0.3 percent in its biggest one-day percentage drop since Feb. 1.
• Meanwhile, Asian stocks pulled further away from two-month lows on Tuesday, lifted by Wall Street's extended rebound from last week's steep fall.
• "Gold held up better than stock markets last week... Relative to stocks, gold looks to be good in value and continued volatility in the equity markets might make gold more attractive for its lower volatility," analysts at Heraeus Precious Metals said in a note.
• Meanwhile, investors waited for the U.S. inflation data for January which is due on Wednesday.
• In other precious metals, silver gained 0.8 percent to $16.48 per ounce, platinum rose 0.2 percent to $972.50 per ounce and palladium climbed 0.2 percent to $986.8 per ounce.
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