Gold steadies

Bengaluru: Gold prices were almost unchanged on Wednesday after hitting their lowest in nearly five months in the previous session, with investors in ´wait-and-see´ mode ahead of the outcome of a two-day meeting of the U.S. Federal Reserve.

Spot gold was steady at $1,243.10 an ounce at 0051 GMT, after marking its lowest since July 20 at $1,235.92 in the last session.

U.S. gold futures were up 0.3 percent at $1,245.40. The U.S. dollar stood near a four-week high against a basket of currencies on Wednesday after strong U.S. wholesale price figures kept the Fed on track for a widely-expected rate rise this week and more in 2018.

U.S. producer prices climbed in November as gasoline prices surged and the cost of other goods increased, leading to the largest annual gain in nearly six years.