Gold edged higher early Monday as sellers paused the heavy selling that drove futures sharply lower at the end of last week, with traders looking ahead to interest-rate policy meetings that could set the near-term course for dollar/yen trading and precious metals.
Gold for June delivery gained a modest $4.90, or 0.4%, to $1,235 an ounce. The SPDR Gold Trust slipped less than 0.1%.
Silver for May delivery was little changed near $16.86 an ounce. Gold ended last week modestly lower after a tumble on Friday. Silver, which has been outrunning gold as it finds underlying industrial-use demand, advanced 3.6% last week. That was its third straight weekly gain.
