Gold settles at lowest price in a week ahead of this week’s Fed policy decision

Gold futures settled Monday at their lowest in a week, pressured by strength in the U.S. dollar ahead of the Federal Reserve’s monetary policy decision due Wednesday. The U.S. central bank is expected to raise borrowing costs by 25 basis points Wednesday but investors will also be looking out for clues that the move may be the last of the rate-hiking cycle. Gold for August delivery
GCQ23,
-0.47%
fell $4.40, or 0.2%, to settle at $1,962.20 an ounce on Comex, the lowest most-active contract finish since July 17, FactSet data show.