Gold slipped to its lowest level in over two weeks early on Monday amid a firmer dollar, while prospects of monetary policy tightening in the United States ahead of the Federal Reserve's two-day meeting starting on Tuesday also weighed on the metal. Asian shares crept ahead and the dollar firmed on Monday in a cautious start to a week in which the US Federal Reserve is likely to wrestle with its bloated balance sheet as part of a long reversal of super-cheap money worldwide.
The dollar held firm near a seven-week high against the yen on Monday, supported by recent rises in US Treasury yields. Sterling held firm after rallying last week, underpinned by expectations the Bank of England could raise interest rates soon.
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