Spot gold was down 0.1% at $1,311.70 per ounce at 9.32am, after falling 0.8% last week. Photo: ReutersGold prices extended losses into a fourth session on Monday, with the dollar remaining supported as investors expect the U.S. Federal Reserve to raise interest rates this week. Spot gold was down 0.1% at $1,311.70 per ounce at 9.32am, after falling 0.8% last week. A two-day Federal Open Market Committee (FOMC) meeting begins on Tuesday, with the U.S. central bank expected to hike interest rates for the first time this year. Gold is highly sensitive to rising US interest rates, becoming less attractive to investors as it does not bear interest.

Source: Mint March 19, 2018 05:03 UTC