With the Federal Reserve set to meet for the first time since March and with an announcement on the future of the federal funds rate set to be released on Wednesday, those in the gold market will be paying close attention.

Gold hit almost $3,300 a troy ounce on Monday, after falling last week, ahead of the Fed's next decision on interest rates, due on Wednesday.

Gold advanced amid ongoing trade war risks following US President Donald Trump’s latest tariff comments, while investors await a Federal Reserve interest-rate decision later this week.

Mining in Peru's northern district of Pataz will be suspended for 30 days, President Dina Boluarte said on Monday, after 13 gold mine workers in the area were kidnapped and killed by illegal miners. Peru's government also plans to set up a military base and implement a curfew lasting from 6 p.

The men were killed in a region that has seen growing conflict over access to ore in recent years. The mine has also been a hotbed of illegal gold mining.

Peru is assigning the military with the task of regaining control of a mineral-rich area of the country’s northern highlands after 13 gold-mine workers were kidnapped and murdered.