Gold Fluctuates as Investors Turn Focus to Fed Meeting, US Data

• No policy change expected at Federal Reserve meeting this week
• The precious metal near a record high touched this month

Gold wavered as traders looked ahead to a week with a Federal Reserve rate decision meeting and key US jobs data.

Policymakers are expected to reaffirm their stance for higher-for-longer interest rates at the conclusion of a two-day meeting Wednesday. The last time Fed Chair Jerome Powell spoke, he signaled that policymakers were likely to keep borrowing costs high for longer than previously anticipated, pointing to the lack of progress on bringing inflation down, and enduring strength in the labor market. The US non-farm payrolls number due Friday will also be crucial for traders.