Bengaluru — Gold prices extended losses into a fourth session on Monday, with the dollar remaining supported as investors expect the US Federal Reserve to raise interest rates this week. Spot gold was down 0.1% at $1,311.70/oz at 4.02am GMT, after falling 0.8% last week. US gold futures for April delivery dropped 0.1% to $1,311.60/oz "I think the overall economic recovery is good enough for the [US] central bank to consider a faster pace of normalisation of monetary policies," said Mark To, head of research at Hong Kong’s Wing Fung Financial Group. A two-day Federal open market committee meeting begins on Tuesday, with the US central bank expected to increase interest rates for the first time this year. "It is somehow expected and is already priced in the market so I stick to my prediction that precious metals, with gold included, are going to have range-bound trading, unless something really surprising happens," said To. With a 25 basis point rate increase considered a done deal, o...
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