Gold Treads Water Ahead of Fed Rate Decision

Gold prices held steady on Tuesday after hitting their lowest point in over a month, as investors awaited the Federal Reserve's decision on monetary policy. The spot gold price remained unchanged at $4,300.96 per ounce, while US gold futures slipped 0.3% to $4,341.10.

The market is anticipating a quarter-percentage-point rate hike to a range of between 3.75 and 4.00%, following recent data showing inflation accelerating in the United States during August.

Gold was also impacted by the rise in the yield on 10-year US Treasury bonds to five percent, as well as escalating geopolitical tensions and rising oil prices.