New York, May 01 (QNA) - Gold prices eased on Monday as the US dollar held firm, with cautious traders awaiting the Federal Reserve's interest rate hike decision later this week.
Spot gold fell 0.5% to $1,980.78 per ounce by 0759 GMT. US gold futures shed 0.5% to $1,989.20.
The dollar index rose 0.2%, making greenback-priced bullion more expensive for overseas buyers.
Gold prices rose more than 1% in April as renewed concerns over turmoil in the US banking sector enhanced its safe-haven appeal for investors.
It is expected that the European Central Bank will raise interest rates at its meeting next Thursday for the seventh time in a row. (QNA)