2018.01.2914:05:00UTC+00Gold Slide Ahead Of Fed Meeting

Gold futures fell for a second day Monday, trimming recent gains ahead of the upcoming Federal Reserve meeting.

Federal Reserve Chair Janet Yellen's last policy meeting on Wednesday is not expected to deliver any change or surprise for investors, but many will be paying attention for clues about future rate hike.

February gold lost $11.80, or 0.9%, to settle at $1,340.30 an ounce. Prices have slipped from yearly highs over the past two sessions.

In economic news, the Commerce Department said personal income climbed by 0.4 percent in December after rising by 0.3 percent in November. Economists had expected another 0.3 percent increase.

German import price inflation in December was the lowest in over a year, though prices rose during the whole year 2017, erasing the decline seen in the previous year, preliminary data from the statistical office Destatis showed Monday.