The precious metal hit a high of $1287.01 an ounce, the highest since May 16, while currently trading lower around $1280.20.
Asian stocks resumed its plunge today amid Brexit concerns and fall in oil prices, yet gold could not take advantage.
The dollar index, which tracks the green currency’s movements versus a basket of major currencies, is meanwhile trading higher around 94.81.
Eyes will focus on monetary policy meeting by the Federal Reserve, where investors will look for clues about the timing of the first interest rate hike this year.
Expectations of seeing a rate hike this week have dropped after the latest U.S. employment report that signaled the weakest pace of job creation in nearly six years.
Investors will also focus on policy meetings by the Bank of Japan and Swiss National Bank this week.
Policymakers will probably wait to see the outcome of the Brexit referendum on June 23, given the risks that could financial markets in the event that Britons chose to leave the EU.
Two opinion polls published by ICM on Monday showed the lead of the “Leave” camp over the “Remain” campaign.
“Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.27 percent to 896.30 tonnes on Monday, the highest since October 2013,” according to Reuters.
So far, gold has climbed 20 percent this year, where further delay in the decision of raising interest rate by the Fed could help non-interest bullion to widen its gains.
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