Gold prices remained little changed Monday morning, with traders waiting for the next interest rate decision from the Federal Reserve.
The Fed meets April 28-29, and although few expect a rate hike this month, the Fed could signal tightening is imminent this summer.
Meanwhile, in a bid to shore up its economy, China’s central bank announced over the weekend that it lowered the amount of deposits it requires banks to hold as reserves to 18.5% from 19.5%.
China’s economy grew at the slowest pace in six years during the fourth quarter.
Gold was down $4 at $1999 an ounce on the New York Mercantile Exchange.
A closely watched report on U.S. inflation failed to spur any movement in gold on Friday.
The Labor Department said its consumer price index edged up by 0.2 percent in March, matching the increase seen in February. Economists had expected the index to rise by 0.3 percent.
The material has been provided by InstaForex Company – www.instaforex.com