Gold futures fell sharply on Monday amid a wavering dollar, as relatively optimistic personal income data reinforced the argument for an imminent interest rate hike by the Federal Reserve. On the Comex division of the New York Mercantile Exchange, gold for December delivery traded in a broad range between $1,127.50 and $1,147.80 a troy ounce before settling at $1,133.60, down $12 or 1.05% on the session. Last week, gold peaked at a September high of $1,155 an ounce after Fed chair Janet Yellen said it is likely the U.S. central bank will raise its benchmark Federal Funds Rate at some point this year. In spite of a volatile month of trading, gold futures are up roughly 1% in September after opening the month around $1,125 an ounce. Gold likely gained support at $1,104.10, the low from Sept. 14 and was met with resistance at $1,149.80, the high from Sept. 25. On Monday morning, the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA) said its Personal Consumption Expenditure (PCE) Index increased by $54.9 million or 0.4% in August, or at the same rate as its increase a month earlier. Personal income rose by 0.3% last month, following an upward revision of 0.1% in July to 0.4%. The Core PCE Index, which strips out food and energy prices, increased 0.4% on a month-over-month basis, on the back of strong gains in durable goods and motor vehicles and parts. It follows an increase of 0.3% in July.