Gold Prices Little Changed in Subdued Trade

Investing.com – Gold prices were little changed on Monday, hovering close to two-week lows as traders began to focus on this week’s Federal Reserve monetary policy meeting.

Comex were steady at $1,311.9 a troy ounce by 09:00 a.m. ET (13:00 GMT), just off a two-week trough of $1,307.4 hit overnight.

Later in the week, the Fed is widely expected to raise rates by a quarter point at the conclusion of its two-day policy meeting. Investors will mostly be focusing on any indications as to the pace of monetary policy tightening for the remainder of the year.

Gold is sensitive to moves in U.S. rates, as a rise in U.S. interest rates lifts the opportunity cost of holding non-yielding assets such as bullion.

Separately, investors were still cautious amid concerns that more top Trump administration officials could be from the White House and worries over the economic impact of U.S. trade tariffs.

Elsewhere on the Comex, slipped 0.14% to $16.24 a troy ounce.

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