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- Gold price traded lower on a stronger U.S. dollar
Gold price traded lower on a stronger U.S. dollar
Gold price traded lower on a stronger U.S. dollar. The U.S. dollar rose other currencies ahead of the release of the Fed's monetary policy meeting results. The results are scheduled to be released tomorrow. Analysts expect that the central bank will keep unchanged its monetary policy. Market participants will monitor closely a speech by the Fed Chair Janet Yellen for signs when the central bank starts raising its interest rate.
The debt talks between Greece and its creditors remained in focus. Greek Finance Minister Yanis Varoufakis said that Athens will not provide a new reform proposal.
German newspaper Süddeutsche Zeitung reported that capital controls could be imposed this week. Athens denied this report.
Assets at SPDR Gold Trust declined 0.3% to 701.9 tonnes on Monday, the lowest level since 2008.
Speculation on that the Fed start raising its interest rate this year weighed on gold price.
Lower physical demand in Asia also weighed on gold price.
June futures for gold on the COMEX today fell to 1177.00 dollars per ounce.
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