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The most active gold contract for December delivery fell 23 U.S. dollars, or 1.68%, to settle at 1,344.4 dollars per ounce.

Gold fell as much as 1.7 percent on Friday, as the dollar rose after U.S. data showed employment increased more than expected in July, raising the probability of an interest rate hike from the Federal Reserve this year.

U.S. nonfarm payrolls increased by 255,000 jobs last month, the Labor Department said on Friday, up from an expectation of 180,000.

Spot gold fell to a one-week low of $1,336.46 an ounce and was down 1.7 percent at $1,338.25 by 2:48 p.m. EDT (1848 GMT). It was on track for its weakest session since July 12 and set to finish the week down 0.9 percent.

The most active U.S. gold futures for December delivery settled down 1.7 percent at $1,344.40 per ounce.

Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund rose to the highest since July 11 on Thursday.

Though the market appeared to be increasing the odds for the Fed to raise U.S. interest rates as early as September, Haworth said he still does not expect to see a hike until December.

Deutsche Bank expects a single U.S. rate hike this year. The dollar rose 0.4 percent against a basket of six major currencies and global stock markets firmed.

China's gold reserves stood at 58.79 million fine troy ounces at the end of July, up from 58.62 million fine troy ounces at the end of June, the central bank said on Sunday.