Gold gains as US yields ease

Spot gold prices gained on Monday, supported by ongoing geopolitical concerns and lower US Treasury yields, as markets awaited the Federal Reserve's policy meeting, reports Reuters.

Spot gold was up 0.3% at $2,655.39 per ounce as of 9:56 a.m. ET (1456 GMT). US gold futures slipped 0.1% to $2,674.10.

"I think the continuous presence of geopolitical risks are contributing to gold's strength," said Nitesh Shah, commodity strategist at WisdomTree.

US 10-year Treasury yields dipped 0.2%, further supporting bullion.

The Fed is expected to cut rates by a quarter point at its two-day meeting starting on Tuesday.