Gold futures gave up early Monday gains to finish at their lowest in more than a week, pressured by strength in the U.S. dollar ahead of what’s expected to be a decision by the Federal Reserve on Wednesday to raise interest rates.
With much of Europe celebrating the May Day holiday, precious metals traders in the U.S. also kept an eye on developments in the financial sector after news that JPMorgan Chase & Co. JPM won an auction to take over troubled First Republic Bank’s FRC business and deposits.
Price action
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