FX.co ★ Gold Moves In Tight Range Ahead Of Central Bank Meetings

Gold prices traded in a tight range on Monday as investors looked ahead to key central bank meetings this week for directional cues.

Spot gold rose 0.2 percent to $1,965.74 per ounce, while U.S. gold futures were marginally higher at $1,967.50.

The dollar index inched higher, limiting bullion's rise.

The Federal Reserve's interest-rate decision is due on Wednesday, followed by the European Central Bank (ECB) on Thursday and the Bank of Japan (BOJ) on Friday.

A 25-bps hike in the Fed funds rate is fully priced in, with investors likely to watch for any hints on the central bank's future moves.

The ECB is also expected to raise borrowing costs by 25 bps and reiterate its commitment to continue the current hiking cycle.

The Japanese yen remains pressured amid expectations that the BOJ will not make any changes to its ultraloose monetary policy.

As U.S. recession fears ease, reports on consumer confidence, new home sales, durable goods, second quarter GDP and personal income and spending are also likely to attract attention this week.