Gold steady as markets brace for Fed decision

Gold prices were little changed on Wednesday, having edged higher in the previous session on a weaker dollar, as investors await the US Federal Reserve's decision on interest rates later in the day.[BENGALURU] Gold prices were little changed on Wednesday, having edged higher in the previous session on a weaker dollar, as investors await the US Federal Reserve's decision on interest rates later in the day.US gold futures were also little changed at US$1,284.30 an ounce.

In focus today is the US Federal Open Market Committee announcement, which could offer clues on the future trajectory of interest rates. Any decision by the Fed to keep rates unchanged is widely seen as positive for gold. Newmont Goldcorp Corp said on Tuesday it had suspended payments and social programs to workers, suppliers, and villages around Mexico's largest gold mine in response to a blockade by a contractor and members of one of the 25 communities.

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