Gold moves off Friday’s lows

FXStreet (Córdoba) - Gold prices edged slightly higher on Monday as the greenback weakened across the board following another round of disappointing US data as investors gear up for the Federal Reserve policy decision on Wednesday.

Greenback weakness intensified, underpinning the yellow metal, after data showed that the pace of new homes sales in the US plunged 11.5% in September to a 10-month low.

Gold rose to a daily high of around $1,170 an ounce but lacked momentum to extend gains and settled in a range over the last hours. Gold is recovering from a 10-day low scored on Friday.