Gold prices edged lower to start the week on Monday, pulling further back from a 17-month high as the U.S. dollar recovered somewhat from last week's turbulence, prompted by conflicting comments from the Trump administration at Davos.

Comex gold futures slumped around $7.00, or 0.5%, from the last session's closing price to $1,345.60 a troy ounce by 2:55AM ET (0755GMT). It climbed to its highest since Aug. 2016 at $1,365.40 last Thursday.