D A I L Y B U Z Z
Gold steadied on Monday but failed to make any recovery from three straight days of losses as stronger global economic data and higher equities curbed the metal's safe-haven appeal. Asian equities rose, taking heart from upbeat earnings and U.S. economic data that eased global growth fears and sharpened risk appetite. The results of stress tests on European banks at the weekend were received calmly in the market. Gold's outlook this week will depend on a Federal Reserve policy meeting, when the U.S. central bank is widely expected to end its bond-buying stimulus, OCBC Bank analyst Barnabas Gan said. The Fed's two-day meeting, which begins on Tuesday, will also be watched for clues on whether any slowdown in Europe or elsewhere could affect the central bank's monetary policy.
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