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Gold Steadies Ahead of Fed Meeting

14 Mar. 2016

Gold steadied on Monday, paring earlier gains as stock markets and the dollar gained, with moves muted ahead of closely watched policy meetings of U.S. and Japanese central banks this week.

Spot gold was little changed at $1,248.66 an ounce at 1442 GMT, off an earlier high of $1,260.71. The metal, which is highly sensitive to monetary policy and resulting currency moves, bounced to a 13-month high on Friday after the European Central Bank signaled an end to rate cuts, pushing the euro sharply higher versus the dollar.

Read full article from Reuters