Gold prices steady

Singapore

Gold was little changed in Asian trade on Wednesday as investors awaited the outcome of the Bank of Japan´s policy meeting and a decision on interest rates from the U.S. Federal Reserve later in the day.

Spot gold was almost flat at $1,314.80 an ounce by 0109 GMT.

U.S. gold futures were steady at $1,318.60 an ounce.

The dollar and the yen fluttered in narrow ranges on Wednesday, penned in by uncertainty about the outcome of Bank of Japan and Federal Reserve policy meetings.

The U.S. central bank is widely expected to hold interest rates unchanged at 0.25 percent to 0.50 percent, and could hint at a rate hike by the end of the year.

The Bank of Japan is expected to make negative interest rates the centrepiece of a new policy framework - widely seen as a desperate attempt to show it still has the means to fight chronic stagnation.