Best Gold Stocks to Buy Now: AABB, GOLD, GDX 
Gold futures were seen trading close to the $1,100 level, still not far from its five-and-half year low, as the dollar rally eased and traders were reluctant to put more long positions on the greenback ahead of the FOMC statement.
The US dollar is mostly driven now by rate-hike speculations related to September's FOMC meeting, which is expected to see the initiation of monetary policy tightening cycle. Such a belief spurred a second wave of dollar rallying during this year as the first one was halted due to first quarter data disappointment.
Gold has been driven to its lowest level since early 2010 during the previous week as the dollar has strengthened against all of its major counterparts and dollar-backed commodities. Due to the lower demand in Asia as well, even gold fundamentals do not pose an optimistic outlook for the next couple of months.
The euro gave up all of its overnight gains and traded lower ahead of the EU open. The European calendar is empty; hence all the bold action is set to happen in the US session with the Federal Open Market Committee (FOMC) meeting outcome in focus.
With Greece talks already delayed by a week, it is highly unlikely that the third bailout agreement will be concluded in time for the August 20th European Central Bank (ECB) payment date, which will inevitably mean that the subject of further actions and bridging finance are likely to be argued over between now and then.
