Gold flat as central bank meetings take spotlight
Gold prices were flat on Tuesday after slipping below the critical $2,000 milestone in the last session, as investors prepared for central bank meetings this week with particular focus on the U.S. Federal Reserve's policy outlook.
FUNDAMENTALS
* Spot gold was steady at $1,995.69 per ounce by 0059 GMT and U.S.
gold futures traded at $2,004.90.
* Spot gold had advanced to as high as $2,009.29 an ounce on Friday, its highest levels since mid-May on safe-haven demand stemming from the Middle East crisis. The rush for safety has set bullion on track for an 8% rise this month, the most since November 2022.
* Investors' focus this week is on Fed's two-day monetary policy meeting starting later in the day followed by U.S.
monthly jobs report on Friday. The Bank of England's policy decision is also due on Thursday.
* The Bank of Japan is expected to revise its inflation forecasts and discuss additional tweaks to its bond yield control at its policy meeting on Tuesday.
* Two European Central Bank policymakers pushed back on Monday against market bets that the ECB will start cutting interest rates in the first half of next year and undo some of its recent efforts to fight high inflation.
* SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.3% on Monday. [GOL/ETF]
* Spot silver fell 0.2% to $23.27 and platinum was up 0.1% to $930.36, with both set for monthly gains.
