Gold remained flat as investors focused on messages from policymakers at the Fed and the European Central Bank on whether further tightening would be required at their upcoming meetings.
After gold closed three weeks in a row with a rise, investors took a position that the Fed and the European Central Bank would increase interest rates and evaluated the signs of further increases.
Spot gold is trading at $1,963 an ounce.
Although the policy makers in the USA and the European Central Bank are expected to increase interest rates in their upcoming meetings, the market has largely focused on the messages to be given about whether further tightening will be made in the following period.
While money market managers increased their bullish expectations for gold, they increased their long gold positions to the top of 10 weeks.