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Spot gold was up 0.3 percent at $1,174.10 an ounce by 0035 GMT. The metal dropped its lowest since Feb. 5 at $1,160.38 in the previous session.

Gold recovered from its lowest since early February on Friday as the dollar drifted lower ahead of US jobs data, but is still on track for a fourth consecutive weekly decline.

The Federal Reserve is widely expected to hike interest rates at its next policy meeting on Dec. 13-14, weighing on gold prices as the precious metal is not an interest-yielding asset.

However, the hikes are unlikely to beat inflation, said Ned Naylor-Leyland, fund manager at Old Mutual Gold and Silver Fund.

The yellow metal had fallen more than 8 percent in November and the outlook is not positive in the short-term, said Singapore's OCBC which is lowering its year-end forecast for the yellow metal to $1,200 an ounce from its previous prediction of $1,300 an ounce.

The house sees two more rate hikes from the Fed in 2017, firming the greenback that will send gold to $1,100 an ounce by the end of the year.

Reference: Reuters, CNBC