Gold dropped as prices seen under long liquidation ahead of expiry and as investors awaited the outcome of a two-day U.S. Federal Reserve policy meeting
The U.S. Fed begins its policy meeting on Tuesday, at which it is widely expected to lower interest rates by 25 basis points.
European central banks have ditched a 20-year-old agreement to coordinate their gold sales, saying they have no plan to sell large amounts of the metal.
Hedge funds and money managers reduced their bullish stance in COMEX gold in the week to July 23, the U.S. CFTC said.
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