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(Reuters) – Gold prices stabilized on Monday, in anticipation of the US Federal Reserve meeting scheduled later in the week. Markets should watch closely for any signs of monetary easing in the world's largest economy.
At 6:13 GMT, the price of gold in cash transactions had not changed much to establish at $ 1417.72 an ounce. Prices fell about half a percent the previous week, under pressure from the strong dollar and the strength of US economic data.
The price of gold in US futures has also been set at $ 1419.30 an ounce.
The US central bank is expected to lower its key rate by at least 25 basis points at its July 30-31 meeting. Investors will also look for signs of further reductions in the future.
Meanwhile, the US-China trade talks are taking place in Shanghai this week as negotiators from both countries meet for their first face-to-face talks since the bipartite truce at the G20 summit. Expectations show little chance of a breakthrough.
Among other precious metals, spot silver fell 0.2% to $ 16.35 an ounce, while palladium lost 0.6% to $ 1526.95. ounce.
Platinum rose 0.6% to $ 864.71 an ounce.
(Reuters)
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