Prices of precious metals were down on Monday as investors braced for the United States Federal Reserve monetary policy meeting, due to begin on Tuesday.
On Wednesday, the Fed is expected to announce another 0.75 percentage point interest rate increase, which could hurt the market appeal of gold, which bears no interest.
Gold decreased by 0.55% to $1,716.77 per ounce at 11:05 am ET. Silver lost 1.17% to $18.39 per ounce at the same time. Platinum declined 0.48% to $873.73 per ounce at 11:06 am ET. Palladium declined 0.88% to $2,010.70 per ounce concurrently.
