Gold prices remained steady on Monday as investors weighed on the reduced demand for the yellow metal as a safe-haven asset, while the spotlight is on the Federal Reserve (Fed) meeting scheduled to begin on Tuesday.
The yellow metal dropped to a one-week low of $1,226.43 an ounce on Thursday as the US dollar and global equities strengthened.
Gold for immediate delivery slid 0.1% lower to $1,229.88 an ounce, according to the Bloomberg generic pricing, while the yellow metal futures for December delivery lost 0.07% to $1,230.90 per ounce on the Comex in New York. Silver futures for immediate delivery lost 0.10% to trade at $17.165 per ounce in London. Platinum gained 0.3% to $1,254 an ounce, while the Platinum ETP holdings declined to 83.5 metric tons on Oct 24. Read more