Gold steadies as investors brace for key cenbank verdicts

Gold was little changed on Monday as investors stayed on the sidelines, positioning for a series of key central bank policy meetings this week, with the US Federal Reserve widely expected to hit pause on interest rate hikes, reports Reuters.

Spot gold was flat at $1,923.40 per ounce by 09:59 a.m. EDT (1359 GMT). US gold futures were down 0.1 per cent at $1,944.10.

"The market is becoming very focused on central bank requisitions... the expectations are that they (Fed) will push the higher for longer narrative and that should keep investors concerned," said Edward Moya, senior market analyst at OANDA.

The Fed's policy decision is due on Wednesday, with traders pricing in a 99 per cent chance of the central bank keeping interest rates steady in the 5.25 per cent to 5.5 per cent range, according to CME's FedWatch Tool.

The Bank of England is seen raising rates by 25 basis points to 5.5 per cent on Thursday. The Bank of Japan's meeting is on Friday, with investors seeking more cues on outlook from Governor Kazuo Ueda after recent comments on ending negative rates.

Spot silver was steady at $23 per ounce, platinum gained 0.5 per cent to $930.09, while palladium slipped 1.3 per cent to $1,232.55.