- Gold prices fell slightly in Asian trading on Monday, struggling to recover from record highs as strong U.S. payroll data fueled expectations for a smaller interest rate cut by the Federal Reserve.

- The yellow metal retreated from record levels as the dollar and U.S. Treasury yields rose following the strong payroll data, prompting traders to scale back expectations that the Fed would cut rates by 50 basis points again.

- This week, attention is focused on comments from a group of Fed officials, as well as the minutes from the Fed's September meeting, for further signals regarding interest rates.

- Spot gold fell by 0.2% to $2,647.64 an ounce, while December futures for gold dipped slightly to $2,667.10 an ounce.

- Gold prices had surged to record highs in September after the Fed reduced rates by 50 basis points and announced the start of an easing cycle.

- However, strong nonfarm payroll data released on Friday bolstered expectations that the Fed would cut rates by only 25 basis points in its upcoming November meeting. The CME Fedwatch index showed traders pricing in a greater than 90% chance of this scenario.

- Consumer price index data due later in the week is also expected to impact the outlook for rates.

- On another note, platinum futures fell by 0.5% to $997.05 an ounce, while silver futures declined by 0.1% to $32.360 an ounce.

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