30.01.202309:23:00UTC+00Gold Slips Ahead Of Central Bank Meetings

Gold prices fell slightly on Monday and the dollar held steady as investors awaited a slew of central bank meetings this week for directional cues.

Spot gold slipped 0.1 percent to $1,926.67 per ounce, while U.S. gold futures were down 0.2 percent at $1,926.60.

The dollar index traded flat, after having hit an eight-month low of 101.50 last week.

The FOMC decision is due on Feb.1, with analysts expecting the U.S. central bank to slow the pace of interest rate hikes to 25 basis points.

Traders will pay close attention to the accompanying statement to see if there are chances of a soft landing for the economy.

The monthly U.S. jobs and wage data along with reports on consumer confidence and manufacturing and service sector activity would also be in the spotlight.

Elsewhere, the European Central Bank and the Bank of England are both expected to hike rates by 50 basis points.