Gold was steady near a 14-month high as investors await Wednesday’s Federal Reserve meeting for signals on where monetary policy is heading, while weighing economic data out of the U.S.
Spot gold little changed at $1,341.61/oz at 12:49pm in Singapore. Prices rose to $1,358.26 on Friday, highest level since April 2018. Bloomberg Dollar Spot Index steady after +0.4% Friday.
U.S. stores and factories reported a pickup in activity last month, according to government figures released Friday. Still, earlier numbers for payrolls and inflation were less robust, which means that investors will be closely watching the commentary from the central bank for clues on whether it may open up the path to lower interest rates in the second half.
Source : Bloomberg