Singapore
Gold steadied near a one-month low on Tuesday as investors kept to the sidelines, waiting for the Federal Reserve's outlook this week on US interest rates. Spot gold was little changed near $1,108.20 an ounce by 0633 GMT, just above a one-month low of $1,098.35 reached last week. US gold was trading at $1,107.60.
Investors are waiting for a statement from the Fed on Thursday, following a two-day policy meet, to see whether the US central bank will raise rates for the first time in nearly a decade.
Expectations that the Fed will hike rates this week have eased recently due to concerns over slowing economic growth in China and volatility in financial markets. But traders warned gold was unlikely to make a significant move before the Fed decision. "If the Fed happens to keep rates on hold, gold will likely find a bid," said MKS Group trader Jason Cerisola, adding that prices could face resistance at $1,154 and $1,170 on the move higher.