Gold prices rose on Monday as the dollar eased against most major currencies ahead of the Federal Reserve’s policy meeting.
Markets are anticipating several significant events this week, including the Federal Reserve’s policy meeting, where interest rates are expected to remain unchanged. Fed Chair Jerome Powell is also scheduled to discuss future policy directions.
Additionally, markets are awaiting US consumer price data and producer price data to be released later this week.
Meanwhile, the dollar index increased by 0.2% to 105.1 as of 20:32 GMT, with a session high of 105.3 and a low of 104.9.
In trading, spot gold prices climbed by 0.2%, or $3.40, to $2328.5 an ounce as of 20:33 GMT.