Gold Falls Before The Fed’s Decision

Gold fell in Monday morning trading in Asia, hitting its lowest level in more than five weeks. Meanwhile, the dollar strengthened as investors waited for the latest policy decision from the Federal Reserve.

Gold futures were also down 0.31% to $1,746.05, after reaching $1.741.8, its lowest since August 12, at a time prior to the session. The dollar, which usually moves in reverse with gold, rose on Monday.

All eyes are on whether the Fed will announce the start of reducing asset purchases when it makes its policy decision on Wednesday. The central bank is also likely to release new economic forecasts and a fresh reading of officials’ expectations for rate hikes.