Gold prices edged higher on Monday, gaining for a second straight session, even as the dollar stayed firm ahead of the Federal Reserve's monetary policy meeting.
The Fed's two-day monetary policy meeting gets underway on Tuesday. The Fed is widely expected to discuss accelerating the pace of tapering its asset purchase program, with reports suggesting the central bank could double the rate to $30 billion per month.
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Market Analysis
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.