Gold is treading water ahead of upcoming key central bank policy-setting meetings. Platinum rose to the highest level in more than two months.
Spot gold -0.3% to $1,422.20/oz at 12:12pm in Singapore after +0.6% on Wednesday. Price hit $1,453.09 on Friday, highest since May 2013. Bloomberg Dollar Spot Index flat.
Bullion surged last Friday to the highest level since 2013 on expectations that the Federal Reserve would reduce interest rates next week for the first time in more than a decade, but has traded in a narrow range of about $16 an ounce this week. Later Thursday, the European Central Bank is set to signal that it is once again preparing to step in to support the euro zone.
Source : Bloomberg