Gold ticks lower on firmer dollar, central bank meetings in focus

Gold prices slipped slightly in Asian trading as the dollar held strong and investors prepared for several central bank policy meetings this week, anticipating a likely pause in rate hikes by the US Federal Reserve. The focus is now on the release of US consumer price and producer price index data on Tuesday and Wednesday, respectively. Gold usually increases in uncertain times, however, the low-interest rates also make the zero-yield asset more attractive. Physical gold demand decreased in China and India last week, leading to discounts being offered by dealers.