Gold ticks lower, bound for best monthly performance in over 2.5 years

Gold prices declined today, March 31,, but they are heading for the best monthly performance in more than 30 months, as investors anticipate economic data from the US, which could help predict monetary policy in the coming period.

Gold futures for June delivery traded 0.28% lower at $1.992.10 per ounce at 11:37 am Makkah time. Spot prices edged down 0.30% to $1.974.43 per ounce.

Silver futures for May delivery ticked 0.27% lower at $23.93 per ounce. Spot platinum prices was 0.30% lower at $987.85, while palladium traded 2.5% higher at $1,491.53.

According to the CME FedWatch Tool, markets are pricing in a roughly 50-50 chance of the Fed maintaining rates at current levels at its May meeting.