Gold prices rise with anticipation of the US Federal Reserve meeting

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Gold prices rose in trading Monday, in conjunction with the rise in inflation in the United States and amid anticipation of the monetary policy meeting of the Federal Reserve during the current week.

At 10:30 (GMT), the yellow metal rose in spot trading by $2.88, or 0.16 percent, to trade at $1,785.60 an ounce.

And gold futures prices for February delivery increased by 0.01 percent, or 20 cents, to the level of 1785 dollars an ounce.

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Meanwhile, the dollar index rose against six other major currencies by 0.30 percent at 96.36.

The Federal Reserve meets on Wednesday amid expectations that it will announce a faster cut in bond purchases, and outline ways to deal with record inflation spikes.