Gold fell along with the rise in global equities
Gold prices fell as investors moved to risky assets, with global stocks dropping to the highest level since October, reducing interest in safe-harbor assets.
Traders will also closely monitor the Fed's policy meeting this week. Fed policymakers are expected to strengthen their stance in the form of halting interest rate hikes. According to Bloomberg's economist-based survey, the Fed will end the current rate of interest rate hikes later this year. The median of the responses to this survey, which was held on March 13-15, indicates that there might be an interest rate hike in September. A similar survey in December predicted two interest rate hikes in 2019.
Spot gold fell 0.2 percent after rising to 0.5 percent on Friday, declining to $ 1,299.34 per ounce at 13:36 Singapore time.
The Bloomberg Dollar Spot Index followed a horizontal decline after a 0.2 percent decline on Friday.
"As we enter a new week, we see an increase in the risk appetite. Expectations that the Fed will continue its pigeon stance are supporting stocks," he said. According to these expectations, gold prices, in a risk-taking environment, retreated, "said the opinion.
From other precious metals, spot silver fell 0.1 percent, platinum fell 0.5 percent and palladium 0.4 percent.
Important events to be followed in the market as follows;
* In Asia, stocks moved upwards on Monday, with a positive downturn in US stocks leading to a five-month high of global stocks.
* British Prime Minister Theresa May has threatened to leave the Brexit deal in case the EU skeptics in the Conservative party she led take a step back this week and do not pledge to ratify the agreement.
* According to the US Commodity Futures Commission's weekly data, currency managers lowered the number of positions (long positions) held with the expectation of uptrend under the expectation of 6,098 to its lowest level since January 22nd
