WASHINGTON (dpa-AFX) - Gold prices were mixed on Monday ahead of this week's highly anticipated monetary policy announcements by major central banks, including the Federal Reserve, the Bank of Japan and the Bank of England.
Spot gold edged up by 0.22 percent to $2,991.44 per ounce in European trade while U.S. gold futures were down 0.1 percent at $2,998.39.
The U.S. Federal Reserve's monetary policy meeting is likely to be in the spotlight this week along with reports on U.S. retail sales and industrial front.
The Fed is widely expected to hold interest rates steady at the conclusion of its latest policy meeting Wednesday, with traders likely to focus on Fed Chair Jerome Powell's post-meeting comments for any changes in tone.
The Bank of Japan is expected to keep its key interest rate steady at its March 19 meeting, with most economists expecting a 25-basis point hike only in July.
The Bank of England's Monetary Policy Committee (MPC) will also update the nation on rates this week - after it previously decided to hold rates at 4.5 percent.
The U.S. dollar hovered close to a five-month low against its major peers as U.S. President Donald Trump reinforced his trade policy stance, saying there will be no exceptions to U.S. steel and aluminum tariffs and that reciprocal tariffs will be imposed on April 2 alongside auto duties.
On the geopolitical front, the U.S. has launched a 'decisive and powerful' wave of air strikes on Houthi rebels in Yemen, citing the group's attacks on shipping in the Red Sea as the reason.
'Funded by Iran, the Houthi thugs have fired missiles at US aircraft, and targeted our Troops and Allies,' Trump said on social media, adding that their 'piracy, violence, and terrorism' had cost 'billions' and put lives at risk.
The Houthi-run health ministry said at least 31 people were killed and 101 others were injured in the strikes.
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