Gold futures settle higher ahead of this week’s Fed meeting

Gold futures settled higher on Monday to recoup just over half of what they lost during Friday’s trading session. Investors await the outcome of the Federal Reserve’s two-day monetary policy meeting which ends Wednesday, as well as President Joe Biden’s speech to Congress and data on first quarter U.S. GDP also due this week to provide guidance for gold’s next price move, according to Colin Cieszynski, chief market strategist at SIA Wealth Management. June gold rose $2.30, or 0.1%, to settle at $1,780.10 an ounce after losing 0.2% on Friday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.