Investors await the Federal Reserve's monetary policy announcement later in the week for cues on when the Fed might raise interest rates. Any weakness in global equity markets due to geopolitical concerns also appear to be supporting the yellow metal.
It is almost universally expected the Fed will reduce its quantitative easing program by another
In some disappointing economic news, a report from the
Gold for August delivery, the most actively traded contract, ended flat to close at
Gold for August delivery scaled an intraday high of
On Friday, gold futures ended higher, snapping a three-session losing streak, on weak global equity markets and worries over the
The dollar index, which tracks the US unit against six major currencies, traded at 81.00 on Monday, down from its previous close of 81.04 late Friday in North American trade. The dollar scaled a high of 81.05 intraday and a low of 80.98.
The euro traded higher against the dollar at
In economic news from the US, a report from the
A pending home sale is one in which a contract is signed but not closed. Normally, it takes four to six weeks to close a contracted sale.
The Fed will be out with its latest rate call on Wednesday, the highlight of a busy week that also includes the July non-farm payrolls report and US GDP figures.
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