Gold prices are trading slightly lower in today’s European session around 2160 levels.
Gold prices fell to a more than a one-week low on Monday, as investors positioned ahead of the U.S. Federal Reserve’s policy decision and a series of other central bank meetings this week.
Gold traders are set to remain highly sensitive to what Fed Chair Jerome Powell might say about the Federal Open Market Committee’s (FOMC) thinking surrounding a potential June rate cut.
Higher interest rates reduce the appeal of holding non-yielding gold.