Bengaluru: Gold prices inched lower early Monday as the dollar remained supported, with investors expecting the U.S. Federal Reserve to raise interest rates at this week´s policy meeting.
Spot gold fell 0.2 percent to $1,310.31 per ounce at 0123 GMT. The price touched $1,309.31, the lowest since March 1, in the previous session. U.S. gold futures for April delivery fell 0.1 percent to $1,310.4 per ounce.
The dollar index against a basket of currencies was up 0.1 percent at 90.295. Asian share markets got off to a hesitant start on Monday for a week in which the Fed is likely to deliver a hike in U.S. interest rates and perhaps signal that as many as three more lie in store for the rest of the year.
The two-day Federal Open Market Committee meeting begins on Tuesday at which the U.S. central bank is expected to raise interest rates for the first time this year.
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