Gold eases

Bengaluru

Gold edged slightly lower on Wednesday as the dollar and equities firmed ahead of the U.S. Federal Reserve´s policy decision due later in the day.

The Fed is expected to keep interest rates unchanged, deferring any possible increase until September or December, as policymakers hold out for more evidence of a pickup in inflation.

Asian stocks inched up early on Wednesday following a relatively upbeat session overnight for U.S. and European stocks, with caution ahead of the Fed statement capping gains.

The dollar was up 1.2 percent against the yen on expectations of significant monetary stimulus by the Bank of Japan later in the week, after falling 1.1 percent in the previous session.

Spot gold dipped 0.2 percent to $1,316.90 an ounce at 0302 GMT.

Bullion rose 0.4 percent on Tuesday. U.S. gold fell 0.3 percent to $1,317.20 an ounce.