Gold futures settle moderately lower ahead Fed meet

Gold futures settled moderately lower on Monday, marking below the psychologically important level of $1,500 an ounce, as the increased risk appetite in the market ahead to the key Federal Reserve policy meeting this week, buoyed the US equities and dulled bullion investments. 

 

The Federal Reserve is widely expected to deliver another quarter-point cut to its benchmark interest rate when policy makers conclude a two-day meeting on Wednesday.

Gold futures for December settled 0.6% lower at $1,495.80 an ounce on the Comex division of the New York Mercantile. While, spot gold was down 0.8% to $1,492.17 per ounce.

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