Gold was steady in Asia ahead of meetings at the Federal Reserve and other major central banks that could provide fresh direction for the precious metal.

Bullion has been trading in a relatively tight range between $1,940 and $1,980 an ounce this month after falling in May on easing bank-contagion fears in the US. It's found recent support on optimism the Fed is nearing the end of its aggressive monetary-tightening cycle. 

The US central bank's June meeting ends on Wednesday, and it's expected to pause. Lower rates over the long term typically benefit gold, which doesn't offer interest. The European Central Bank and authorities in China and Japan also gather this week.

The US consumer price index print for May, which may affect the Fed decision, is due Tuesday. Analysts forecast it will show inflation moderating on a year-on-year basis for an 11th straight month.

Spot gold was steady at $1,958.31 an ounce as of 8:53 a.m. in Singapore after losing 0.4% over the previous two sessions. The Bloomberg Dollar Spot Index was little changed. Silver and platinum were flat, while palladium edged higher.

Source : Bloomberg