Gold drifts upwards

Gold prices edged higher on Tuesday as investors awaited the Federal Reserve's commentary on its monetary policy and a deluge of US economic data due later in the week for more clues on the pace and scale of the Fed's interest rate cuts, reports Reuters.
Spot gold was up 0.3% at $2,391.14 per ounce as of 1059 GMT. US gold futures rose 0.4% to $2,387.80.
The Fed is anticipated to maintain current interest rates at the conclusion of its two-day meeting on Wednesday, but may signal potential policy easing as soon as September, citing inflation nearing its 2 per cent target.
Market focus is also on a series of U.S. employment data scheduled to be released this week including the pivotal non-farm payrolls report due on Friday.
Among other metals, spot silver rose 0.1 per cent to $27.90 per ounce, platinum gained 0.3 per cent to $950.98 and palladium was unchanged at $903.75.