WASHINGTON (dpa-AFX) - Gold prices held steady on Monday as caution crept in ahead of a highly-anticipated U.S. Federal Reserve meeting and the latest round of trade talks between top U.S. and Chinese officials scheduled to take place in Shanghai beginning on Tuesday.
Spot gold was up 0.1 percent at $1,419.51 per ounce while U.S. gold futures were little changed at $1,419.15 per ounce.
Interest rate futures are fully priced for a quarter-point rate cut from the Federal Reserve when the Federal Open Market Committee ends its two-day policy meeting on Wednesday.
Markets await chief Jerome Powell's speech to understand how does the Fed frame the narrative over future moves amid a protracted tariff dispute with China.
Two days of talks between top U.S. and Chinese negotiators are scheduled to restart on Tuesday, although hopes of an immediate breakthrough appear limited.
U.S. President Donald Trump on Friday said that China may wait until after the 2020 U.S. presidential election to sign a trade agreement because Beijing would prefer to reach a deal with a Democrat.
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