Metals Stocks: Gold climbs as decline in the dollar, U.S. stocks steepen

Gold prices stuck to a tight trading range on Monday, after last week’s downbeat tone, as a leading dollar index weakened and benchmark U.S. stock indexes declined.

Market attention remains fixed on this week’s Federal Reserve meeting, concluding Wednesday with what’s widely expected to be another crank higher for a key interest rate. Less certain are any signals from the central bank panel for how quickly it may continue with policy tightening this year.

“Markets seem worried that a recent hawkish shift in officials’s rhetoric means the sitdown will mark acceleration in the Fed rate-hike cycle,” said Ilya Spivak, currencies and commodities strategist with Daily FX.

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