A rally in the U.S. dollar that has weighed on the yellow metal appears to stall ahead of a Federal Reserve policy meeting.
Gold prices were modestly lower on Monday, after posting a gain last week, as investors eyed moves in the U.S. dollar and Treasury yields for cues on the next moves for the precious metal ahead of a Federal Reserve policy meeting.
“The precious metals markets are pausing early this week, ahead of this week’s key FOMC meeting,” said Jim Wyckoff, senior analyst at Kitco.com. The ICE U.S. Dollar Index DXY, a gauge of the greenback’s strength against a basket of rivals, was little changed at 105.34.
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