WASHINGTON (dpa-AFX) - Gold prices were moving lower on Monday as the dollar edged up on concerns about U.S. tariffs and amid caution ahead of a raft of central bank policy meetings due later in the week.
Spot gold slipped by 0.4 percent to $2,760.52 per ounce in European trade, while U.S. gold futures were down 0.4 percent at $2,795.29.
Tariff concerns have resurfaced as the U.S. and Colombia pulled back from the brink of a trade war.
The Trump administration said on Sunday night it was pausing punitive tariffs against Colombia after its leader agreed to grant entry to U.S. military flights carrying deported migrants.
Earlier, Trump had threatened tariffs and sanctions on the country to punish it for refusing to accept military flights as part of his sweeping immigration crackdown.
Meanwhile, the U.S. Federal Reserve is widely expected to hold interest rates steady at the end of its two-day meeting on Wednesday after a 100 basis points of cuts last year.
Recent economic data has led to concerns about the Fed leaving rates on hold for a prolonged period, but many economists still expect the central bank to resume cutting rates sometime in the first half of the year.
The European Central Bank, the Bank of Canada and Riksbank are all expected to reduce key policy rates by 2 basis points, but markets will closely watch any clues on the outlook.
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