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Gold Prices Slip Ahead of Fed Meeting

Gold prices slipped on Monday in Asia ahead of a Federal Reserve meeting that is expected to shed more light on the outlook for U.S. interest rate hikes this year.

Gold Futures were down 0.3% at $1,298.65 on the Comex division of the New York Mercantile Exchange by 11:39 PM ET (03:39 GMT).

The Fed is due to announce its latest monetary policy decision on Wednesday. The central bank is widely expected to keep monetary policy unchanged at the end of its two-day policy meeting and policymakers will also update their projections for future rate hikes.

In January, the U.S. central bank indicated that it will be patient as it considers more rate hikes, amid concerns over slowing global growth.

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