Reuters
Gold muted despite weaker dollar as U.S Fed meeting looms
Gold prices were subdued on Monday despite a pull back in the dollar, as traders looked ahead to a U.S. Federal Reserve policy meeting later in the week. Spot gold was down 0.2% at $1,798.28 per ounce by 10:13 am EDT (1413 GMT), while U.S. gold futures also lost 0.2% to $1,798.10. “Gold has been anchored near $1,800, so any correction below it, sees it gravitate back towards $1,800 like a rubber band and any move towards $1,820, sees it snap right back,” said Phillip Streible, chief market strategist at Blue Line Futures in Chicago.