Gold recovers from below $1100/oz, focus on Fed

FXStreet (Córdoba) - Gold prices edged higher on Monday, recovering slightly from one-month lows, but remained within a narrow range in quiet trading as investors await the Fed decision on Thursday.

Lingering concerns about China following a soft series of data and uncertainty ahead of the FOMC decision lifted the appeal for safe-havens. XAU/USD rose to a daily high of $1,110 an ounce before easing slightly. Gold bottomed out at a one-month low of $1,098 an ounce.

Markets remain in wait-and-see mode ahead of the Federal Reserve eagerly-awaited meeting, where the FOMC could raise federal funds rate for the first time in nearly a decade.