2019.03.1906:48:00UTC+00Gold Extends Gains Ahead Of Fed Meeting

Gold prices rose for a third straight session on Tuesday as the U.S. dollar extended losses amid expectations the Federal Reserve will signal a dovish policy stance at its two-day policy meeting getting underway today.

Spot gold edged up 0.35 percent to $1,308.09 per ounce while U.S. gold futures were up half a percent at $1,308.35 an ounce.

The dollar held close to a two-week low posted in the previous session amid speculation the policymakers will scale back their projection of rate hikes this year from two to one or perhaps even none, due to growing risks from slowing growth and trade conflicts.

After releasing the latest economic forecast and interest-rate projections, Fed Chairman Jerome Powell will speak at a news conference at 2.30 pm.

The Bank of England as well as central banks in Indonesia, the Philippines, Taiwan and Thailand all have monetary policy meetings this week.

Elsewhere, the U.K.'s Brexit turmoil deepened after John Bercow, the speaker of Britain's House of Commons, said the government couldn't keep asking lawmakers to vote on the same deal they have already rejected twice.