WASHINGTON (dpa-AFX) - Gold prices edged higher on Monday as the dollar dipped slightly ahead of a busy week of U.S. tech earnings and the Fed meeting.
Spot gold rose 0.4 percent to $1,734.27 per ounce, while U.S. gold futures were up 0.3 percent at $1,731.90.
Bond yields were little changed after sliding on Friday as weak data added to worries about the global economy.
Investors are pinning hopes that the U.S. Federal Reserve will likely slow the pace of interest-rate increases after front-loading policy with a second straight 75-bps rate hike on Wednesday.
With oil and other commodity prices falling from recent highs, there are hopes that some of the upward pressure on headline inflation figures would ease in the coming months.
U.S. Treasury Secretary Janet Yellen said on Sunday that a recession is not inevitable.
Ahead of a slew of U.S. data due this week, Yellen said that there was the risk of a recession, but a downturn was not inevitable.
This week's data will cover sales of new homes, consumer confidence, incomes, spending, inflation, and overall output.
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