Spot gold prices edged down to below $1775 an ounce level on Monday but remained close to 1-week highs, as investors continue to weigh the rapid spread of the coronavirus Delta strain and the impact it will have on the economic recovery. At the same time, concerns the Fed would have to taper earlier softened a bit after the US consumer sentiment fell to a decade-low in August. Still, traders will keep a close eye on minutes of the Fed’s July meeting due Wednesday and Fed Chair comments on Tuesday for any further clues on the central bank’s next steps.
