Gold climbs back above $1,180/oz as European stocks wilt

27-Apr (Reuters) — Gold edged back above $1,180 an ounce on Monday, recovering from the previous session’s five-week low, as lingering concerns over Greece pressured European stocks, curbing a broad-based rally in equity markets.

Investors are now focusing on the Federal Reserve’s policy meeting this week for clues on the timing of a U.S. rate hike. Some are betting it will be forced to wait until later this year, instead of June as was expected a short time ago, before raising rates from record lows.

…Attention is now turning back to policy signals from the U.S. central bank. The Fed will start a two-day policy meeting on Tuesday, with investors watching out for comments on the strength of the economy and the timing of monetary tightening.

[source]