While the dollar has remained firm and investors are preparing for a series of policy decisions from the world's major central banks, the price of gold fell on Monday. This increase was also propelled by the American Federal Reserve

Spot gold was down 0.4% to $2,147.89 per ounce at 0259 GMT. US gold futures fell by 0.5% to 2,151.30 dollars. The Fed is considered certain to keep rates at 5.25%-5.5% at the end of its two-day meeting on Wednesday. But it's possible that the Fed will signal a higher policy outlook for longer, given the rigidity of inflation for both consumers and producers.

Platinum fell 0.1% to $932.45 per ounce, palladium remained stable at $1,077.25, and silver fell 0.6% to $25.01. (Reporting by Brijesh Patel and Harshit Verma in Bengaluru; Writing by Subhranshu