Gold prices traded steady at the start of the week with investors now looking ahead to the FOMC policy meeting and US NFP jobs data scheduled later this week.
During the Asian session, spot gold was little changed at around $1,925 per ounce, while gold futures hovered at $1,942 per ounce.
The movement exhibited by the gold commodity is in line with the currency market as investors begin to be cautious ahead of the results of the central bank meeting and key economic data.
The yellow metal retreated from a 9-month high of $1,949 an ounce last week after US gross domestic product (GDP) data showed a better-than-expected reading.
Prices, however, failed to react as core US personal consumption expenditure (PCE) data added evidence that price pressures are easing and strengthened expectations for this week's Federal Reserve (Fed) decision.
The Fed is widely expected to raise rates by 25 basis points with a follow-up statement from Chairman Jerome Powell set to be the focus of investors.
Gold is very sensitive to the outlook for interest rates because higher rates increase the opportunity cost of holding non-yielding bullion and vice versa.
