Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum.
Gold prices held steady near the key $2,000 level on Monday, buoyed by safe-haven demand from an escalating Middle East conflict, as investors awaited the outcome from the U.S. Federal Reserve's policy meeting this week.
While the Fed is widely expected to keep interest rates unchanged, the focus will be on Chair Jerome Powell's commentary.
"That should keep a floor under gold prices, which look quite comfortable above $2,000 at the start of the week."
Although gold is seen as a hedge against inflation, higher interest rates dull non-yielding bullion's appeal.
Persons:
Khan Younis, Jerome Powell's, Matt Simpson
Organizations:
Aurum, U.S, Palestinian, Index, Commerce Department, Reuters
Locations:
U.S . Federal, Gaza, Al, Quds, Khan, Israel, U.S