Gold held a decline as investors await the Federal Reserve’s meeting this week for further signals on the central bank’s interest rate path.
Spot gold little changed at $1,339.02/oz at 9:04am in Singapore, after -0.2% on Monday. Prices rose to $1,358.26 on Friday, highest level since April 2018. Bloomberg Dollar Spot Index steady.
The gathering of Fed officials Tuesday and Wednesday will be closely watched for clues on whether the central bank is ready to start easing monetary policy amid cooling inflation, deteriorating growth and trade war uncertainty. A report Monday showed a gauge of factories in New York state plunged in June by the most on record, adding to signs tariffs are weighing on manufacturers and the broader economy.
Source : Bloomberg