Gold Holds Steady; Fed Meeting In Focus

Gold prices held steady on Tuesday, after hitting a one-month high in the previous session, buoyed by political uncertainty in the United States, as investors awaited the Federal Reserve meeting for clues on monetary policy. Investors also braced for possible hints on when the next interest rate hike is coming, ahead of the Fed's rate-setting two-day committee meet starting on Tuesday. While no rate hike is expected, the market is likely to remain subdued leading into the meeting.

Spot gold was nearly unchanged at $1,255.32 per ounce, as of 0403 GMT. In the previous session, it touched $1,258.79 an ounce, its highest since June 23. U.S. gold futures for August delivery rose about 0.1 percent to $1,255.30 per ounce.

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