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Federal Reserve, Brexit vote in focus



Gold prices eased on Monday as equity market gains detracted from the precious metal's appeal prior to a US Federal Reserve meeting this week.

Spot gold fell 0.2 percent to $ 1,299.13 per ounce at 0443 GMT.

US gold futures fell 0.3 percent to $ 1,299 an ounce.

The US Federal Reserve will begin its interest rate session on Tuesday, ending with a press conference on Wednesday.

"This could be an important meeting, we saw The US Federal Reserve took a much more cautious stance earlier this year, especially given the number of stronger numbers we've seen," said Michael McCarthy, chief market strategist at CMC Markets.

Confidentiality and a Balanced Risk Approach, and if so, we might see a stronger US dollar that could put gold prices under pressure. "

Gold, which offers no return on its own, tends to disgrace investors as interest rates rise.

Investor sentiment towards gold is reflected in the decline in net long positions of speculators and investors A decline in the positions of the SPDR Gold Trust, the world's largest exchange-traded gold fund, on Friday

reflected] traders have long shortened their network The position of the US Commodity Futures Trading Commission (CFTC) a week to March 1

2 for a third consecutive week in COMEX gold, said on Friday.

"The gold price is currently at an important level, $ 1,290 and $ 1,310 are the main support and resistance levels," said McCarthy Gold is the strength of the US dollar, and the dollar is again looking at the trade negotiations between the US and China. "

Since last year, investors have considered the dollar safe Port opposite the US-China prefers trade war. The markets were on the sidelines, as the resolution of the conflict takes longer than expected.

The precious metals included further gains in the stock markets.

"The precious metal has strong resistance to riskier assets Given the geopolitical uncertainties in the current term," Phillip Futures said in a note.

Investors are watching closely developments surrounding the UK's abandonment of the European Union. British Prime Minister Theresa May ruled Sunday to seek support for the Brexit Agreement in Parliament for the third time.

Among other precious metals, palladium fell 0.5 percent to $ 1,551.94 an ounce, reaching a record $ 1,567.50 at its last session.

Spot Silver was stable at $ 15.28 per ounce, while platinum declined 0.1 percent to $ 827.36.


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