Gold holds near 4-week low with focus on key Federal Reserve meeting

Gold held near the lowest in four weeks in the wake of higher bond yields, as investors awaited a key Federal Reserve meeting for clues on future monetary policy.

The yield on 10-year Treasuries eased slightly on Monday, following a two-day gain from the lowest since March that damped the appeal of the non-interest-bearing precious metal. Bullion traders’ attention will be on the Fed’s two-day meeting which starts Tuesday, as well as comments from central bank Chair Jerome Powell, for signals on a timeline for paring stimulus.

Bullion’s retreat from the highest since January earlier this month came as investors weigh inflation