Gold sinks -1.30% to 1228.90, recovering slightly from fresh 9-day lows struck at 1226.50 in early Asia. The yellow metal is seen making minor-recovery attempt over the last few hours, although remains near close to 2-week lows as markets lock-in gains after the recent strength, ahead of the key BOJ and Fed policy decisions.
Highly Focus Event in This Week for Gold.
Focus remains on the main risk event for gold this week; the FOMC statement due on Wednesday, with markets expecting the Fed to stay on hold. Although the Fed statement may shed more light on the Fed’s interest rates outlook for 2016, which could have major impact on the non-interest bearing gold.