Gold was stuck near its lowest in over three months on Monday, pressured by a stronger dollar, ahead of a key Federal Reserve policy meet this week that could hint at the timing of any hike in U.S. interest rates.
Investors will be watching the Fed's two-day policy meet that begins on Tuesday for clues on U.S. central bank view on the economy and how soon it could raise interest rates.
The dollar has already been boosted by prospects of higher rates, trading near a 12-year high against a basket of major currencies.
Hedge funds and money managers reduced their bullish stance in Comex gold and silver for the sixth straight week in the week ended March 10, U.S. Commodity Futures Trading Commission data showed on Friday.
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.