WASHINGTON (dpa-AFX) - Gold prices continued to nudge lower Monday morning ahead of this week's closely-watched Federal Reserve meeting.
Fed members are not expected to hike rates quite yet, but markets will be listening for any forward guidance on when they will tighten.
With the Fed on track to hike rates in either April or June, political turmoil in Europe has failed to give gold much of a boost.
Gold for March was down $10 at $1283 an ounce, staying away from a 6-month high above $1300 set last week.
Silver was also lower at $18.04 an ounce, further trimming recent gains.
Later in the week, traders will be paying attention to preliminary U.S. fourth quarter GDP figures.
Economists expect the economy expanded at an annual rate of about 3 percent, down from the robust 5 percent rate in the third quarter.
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