Gold hovered just above its lowest level since 2010 on Monday, struggling to move higher as the market reckons the US Federal Reserve is moving closer to raising interest rates.
The Fed will hold a two-day meeting that ends on Wed
Oil prices fell on Monday after closing the previous session at their lowest levels since March on renewed oversupply concerns from the United States and Iraq, although a weaker dollar helped to limit deeper losses.
US employers added the fewest number of jobs in more than a year in March, which could heighten concerns over the recent slowdown in economic growth and delay an anticipated interest rate increase by the Federal Reserve.
Gold edged up on Wednesday after hitting a more than four-month low in the previous session, while traders remained cautious ahead of the conclusion of a Federal Reserve meeting that may stoke expectations for a mid-year hike in US interest rate
Gold dropped to fresh eight-month lows on Monday on fears that the US Federal Reserve may signal an early interest rate hike at this week's policy meeting, while the strength in the dollar and weak physical demand also weighed on bullion.
Gold steadied below a three-week high on Tuesday as escalating tensions in Iraq attracted some safe-haven bids, while investors waited for a Federal Reserve meeting this week before taking any big positions.
The Fed's two-day
Brent oil futures eased towards $107 a barrel on Monday as investors dumped risky assets over worries about weaker emerging market economies, but U.S. crude held up due to a spell of cold weather.
The U.S. Federal Reserve is widel
Gold rose for a fourth session on Friday, gaining over 1 percent to hit a two-week high as weaker equities spurred demand for the metal as a safe-haven asset.
Gold, headed for its best weekly performance since October, was also su
Gold slid more than 1 percent on Thursday to its lowest since late June after the U.S. Federal Reserve took its first step away from the ultra-loose monetary policy that had helped drive bullion prices to record highs in recent years.
The Federal Reserve on Wednesday embarked on the risky task of winding down the era of easy money, saying the US economy was finally strong enough for it to start scaling down its massive bond-buying stimulus.
The central bank mod