Gold prices advanced on Monday, but gains were limited in a context of market caution ahead of high-impact events in the coming sessions, including the FOMC announcement on Wednesday. In this context, XAU/USD climbed approximately 0.2% in early afternoon trading in New York, bouncing off technical support located around the $2,150 region.
The Federal Reserve will hold its March meeting this week. Although the central bank is largely expected to keep its policy settings unchanged, the institution led by Jerome Powell could modify its forward guidance and adjust its outlook in the quarterly summary of economic projections in light of disappointing developments on the inflation front.
