Gold down

Bengaluru : Gold prices edged down on Tuesday as the dollar firmed, with focus shifting to the U.S. Federal Reserve which is expected to hike interest rates and signal three more increases this year at a two-day meeting that kicks off later in the day.

Spot gold had fallen 0.1 percent to $1,315.86 per ounce at 0108 GMT. U.S. gold futures for April delivery dropped 0.2 percent to $1,315.80 per ounce.

The dollar index against a basket of currencies was up 0.1 percent at 89.883. It slipped 0.5 percent on Monday.

The Federal Open Market Committee (FOMC), the U.S. central bank´s policy-setting group, will meet on Tuesday and Wednesday.

The Trump administration is expected to unveil up to $60 billion in new tariffs on Chinese imports by Friday, targeting technology, telecommunications and intellectual property, two officials briefed on the matter said Monday.