GOLD: COMEX April gold futures settled down $7.20 at $1,334.50 an ounce on the COMEX division of the NYMEX.

Ranged from $1,323.60 to $1,347.20 an ounce.

Gold faced pressure from data showing factory activity in the US Midwest hit a 22-1/2 year high in January as orders surged and employment prospects brightened, and as a report showed consumer spending ended 2010 on a firmer footing.

Monday's decline in gold is just a blip on the radar. Last Friday's de-risking trade is going to reassert itself - James Dailey, portfolio manager of the TEAM Asset Strategy Fund.

Prospect of unrest in Egypt spreading across the Middle East should fuel safe-haven buying in the near term - traders.

Gold's decline came as commodities were on course to end January up 2 percent after London's Brent crude oil surpassed $100 a barrel for the first time since 2008.

COMEX total gold futures volume sharply lower than usual at around half of Friday's 300,000 lots - preliminary Reuters data. Spot gold fell 0.6 percent to $1,330.65 an ounce by 3:15 p.m. EST (2015 GMT), having hit a low of $1,322.90.

SILVER: COMEX March silver ended up 25 cents at $28.169 an ounce on industrial commodities' strength. Ranged from $27.520 to $28.425.

COMEX estimated silver futures volume was 3 percent lower than 30-day average - preliminary Reuters data.

Silver rose 0.3 percent to $27.98, having risen earlier to a one-week high at $28.31.

PLATINUM: NYMEX April platinum finished down $4.10 at $1,800.90 an ounce on profit-taking after Friday's gains.

Spot platinum slipped 0.4 percent to $1,785.34 an ounce.

PALLADIUM: NYMEX March palladium closed up $3.10 at $820.10 an ounce on investor buying. Spot palladium dropped 0.4 percent to $810.50. Prices at 3:30 p.m.