Gold prices hold near record highs ahead of Fed meeting

Gold prices strengthened on Monday, hovering near their all-time high from the previous session, as investors shifted focus to the upcoming US Federal Reserve meeting later this week.

As of 12:59 PM GMT, spot gold edged up 0.11 per cent to $2,987.63 per ounce, slightly higher than its previous close of $2,984.42. Meanwhile, US gold futures fell 0.22 per cent to $2,994.59 per ounce, down from Friday’s closing price of $3,001.10.

The market remains closely watching the Fed’s policy decisions, which could influence gold’s trajectory amid ongoing economic uncertainties.

Attribution: Amwal Al Ghad English, Reuters

Subediting: Y.Yasser