Bengaluru — Gold inched lower on Monday as investors remained cautious ahead of policy meetings of three major central banks and the naming of the next US Federal Reserve chair. The market is awaiting cues from the meetings of the Federal open market committee (FOMC) and central banks of England and Japan. USPresident Donald Trump is also expected to announce the next head of the Federal Reserve, amid the speculation that governor Jerome Powell could be the favoured candidate. Spot gold dipped 0.1%, to $1,271.50/oz at 4.08am GMT. US gold futures for December delivery rose 0.1%, to $1,272.4. "The week is very data heavy, with many tier 1 central bank decisions, PMIs [purchasing managers indices] and other data culminating in Friday’s nonfarm payrolls," said Jeffrey Halley, a senior market analyst with Oanda. "With a dovish ECB [European Central Bank] and Bank of Canada followed by impressive US GDP data last week, we would expect the dollar to remain on the front foot and gold to str...
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