Gold steadies as a drop in the dollar countered a rise in global stocks to the highest since October.
Spot gold +0.1% to $1,303.68/oz at 7:01am in London, after +0.5% on Friday. Metal +0.3% last week. Bloomberg Dollar Spot Index -0.1% after -0.2% on Friday. In other Precious metals, Silver +0.2%, Platinum little changed and Palladium +0.3%.
Traders will also be monitoring the Federal Reserve’s meeting this week, where officials will likely reinforce their policy-pause stance. The central bank will bring the current cycle of interest-rate increases to an end after one more hike later this year, according to a new Bloomberg survey of economists. The median of responses in the March 13-15 poll predicted one hike in September, compared with two 2019 increases forecast in the December survey.
Source : Bloomberg