Gold prices dipped on Monday as elevated U.S Treasury yields pressured demand for zero-yield bullion, ahead of a key U.S. Federal Reserve meeting later this week where the central bank is expected to aggressively raise its interest rates.
FUNDAMENTALS
* Spot gold was down 0.3% at $1,890.69 per ounce, as of 0053 GMT. U.S. gold futures dropped 1% to $1,893.40.
* The U.S. Fed’s Federal Open Market Committee is expected to begin its two-day meeting on interest ..
Higher short-term U.S. interest rates and bond yields tend to increase the opportunity cost of holding bullion, which yields nothing.
* Gold prices rallied 1% on Friday after the U.S. dollar retreated, but the metal ended April slightly lower on bets of aggressive policy tightening by the U.S. central bank.
* Bullion is also seen as a safe store of value during times of economic and political crises.
* Around 100 Ukrainian civilians were evacuated from the ruined Azovs ..
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