Gold bounced back on Monday, inching closer to last week’s 13-month high, ahead of crucial policy meetings at the US Federal Reserve and the Bank of Japan that are likely to provide direction to the yellow metal, Reuters reported. Spot gold had risen 0.6% to $1,255.30 an ounce, while US gold eased 0.2% to $1,256.5 an ounce. The main focus is the US Fed’s policy meeting on March 15-16, after the central bank lifted rates for the first time in nearly a decade in December. Investors in the precious metals market are also keeping a watch on the Bank of Japan meet.
