Commodities
Gold Prices Steady as Investors Eye Fed Decision
Gold prices remained steady on Tuesday as investors awaited the U.S. Federal Reserve's policy decision for clues on future monetary policy.
The Fed's two-day meeting concluded, and its announcement is expected at 1800 GMT on Wednesday.
Market analysts are predicting a quarter-point increase in the benchmark rate to a 3.75%-4.00% range, which would be the first hike since May.
IG market analyst Tony Sycamore noted that how Fed Chair Kevin Warsh frames the hike will matter more than the hike itself for gold prices.
If Warsh signals a meeting-by-meeting tightening cycle, it could be negative for gold and risk assets. However, if he suggests a more measured pace, it would be somewhat supportive for risk sentiment and gold prices.