Spot gold was little changed on Monday at $3,644.98 per ounce, with investors awaiting the U.S. Federal Reserve’s policy decision later this week. December U.S. gold futures edged 0.1% lower to $3,682.62. The U.S. dollar index rose about 0.1%, limiting bullion’s upside by increasing costs for non‑U.S. buyers. Gold hit a record $3,673.95 last week before consolidating. Analysts said the metal’s technical backdrop is stretched after recent gains, but any pullback could be met by buying if the Fed signals an easing cycle. Market expectations center on a 25 basis point rate cut on Wednesday, following slightly hotter-than-forecast U.S. inflation in August and softer labor data. Exchange positioning showed hedge funds trimming net long exposure in the latest reporting week. Moves across other precious metals were mixed: silver rose 0.3% to $42.29 per ounce, platinum gained 0.9% to $1,403.77, and palladium added 0.2% to $1,199.35. Price action reflects macro drivers heading into a week heavy with central bank decisions and U.S. guidance.