Gold at 1236 as Fed Meeting Looms

Gold edged lower on Monday as investors nervously eyed the Federal Reserve’s last policy meeting of the year to gauge whether the U.S. central bank would stick to its monetary stimulus.

Spot gold eased 0.1 percent to $1,236 an ounce by 0020 GMT, after gaining 1.2 percent on Friday.

Fed policymakers gather for the last time in 2013 for a two-day policy meeting that concludes on Wednesday. Markets are on the watch for the outlook of the $85 billion monthly bond purchases that have supported bullion prices.


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