Gold Steady As September Fed Rate Hike Prospects Wane

Gold held steady early on Tuesday after rising slightly in the previous session on expectations that the US Federal Reserve will not raise rates in September. 

 

                               FUNDAMENTALS

 * Spot gold was nearly flat at USD 1,326.02 per ounce by 0101 GMT. The metal rose 0.1 percent on Monday. 

 * US gold futures were up slightly at USD 1,329.70. * The US Labor Day holiday kept volumes subdued on Monday, but new US data releases and any speeches from Fed officials will be watched closely for clues to the timing of any rate moves. 

 

                               MARKET REPORT 

* Asian shares edged up on Tuesday but were mostly in a holding pattern after Monday's US holiday, as investors awaited a policy decision from the Reserve Bank of Australia.

* Republican presidential nominee Donald Trump, who has previously accused the Federal Reserve of keeping interest rates low to help President Barack Obama, said on Monday that the US central bank has created a "false economy" and that interest rates should change.

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