Gold rose on Monday as a retreat in the dollar helped to tempt back some buyers after the previous session’s 1.3 per cent slide, but moves were muted ahead of a Federal Reserve policy meeting this week.
The Fed is not expected to raise interest rates at this week’s gathering, but markets will be looking for the US central bank’s take on the global economy and its monetary policy outlook.
Spot gold was at $1,237.11 an ounce at 1340 GMT, up 0.4pc, while US gold futures for June delivery gained $8.50 to $1,238.50.
Among other precious metals, silver was up 0.5pc at $17.04 an ounce.
Platinum was up 0.5pc at $1,011.49 and palladium gained 0.8pc to $605.55.
