Spot gold continues to struggle to hold onto gains as the metal trades near monthly lows of $1644. Liquidity remains very low while Asian traders are largely absent for lunar New Year holidays.
Spot gold is in a wait and see pattern as a number of key events take place. The G20 meeting in Moscow on Friday, as well as the "Sequestration". One of the main topics at the G20 meetings on Friday is countries trying to devalue their currencies.
"Fiscal and monetary policies must not be directed at devaluing currencies", the Group of Seven nations said on Tuesday