Gold Remains Steady Below $1100

Gold fell for a third session on Monday, trading not far above its lowest level since early 2010, with expectations of further losses in the metal as the Federal Reserve moves closer to raising interest rates.

The Fed will hold a policy meeting this week at which policymakers are likely to provide more signals pointing to a rate hike later in the year as the U.S. economy strengthens.

Spot gold was down 0.3 percent at $1,095.50 an ounce by 0035 GMT, after falling for a fifth straight week.  Bullion lost more than 3 percent last week following a rout, accompanied by big volumes in New York and Shanghai that began on Monday and pulled the price to as low as $1,077 on Friday, its cheapest since February 2010.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.