Gold held gains on Tuesday after inching up in the previous session, with U.S. Treasury yields coming off their highs and the U.S. dollar falling ahead of the start of a two-day Federal Reserve meeting.

                               FUNDAMENTALS

* Spot gold was up 0.2 % at $1,164.21 an ounce at 0032 GMT, after climbing 0.4 %on Monday.

* U.S. gold futures were firm at $1,166.40.

* The dollar eased against the yen on Tuesday, coming off a 10-month high, as a surge in Treasury yields was tempered for the time being. The U.S currency was also capped by the prevailing wait-and-see mood ahead of the Fed meet. [USD/]

* The U.S. central bank is widely expected to hike interest rates for the first time in 2016 at its meeting that begins on Tuesday.

* Republican lawmakers and the Fed may be ready to strike a compromise deal on legislation that would give Congress greater scrutiny over the central bank, now that there is no longer the threat of a presidential veto, but it would likely stop short of dictating rules on setting interest rates.

* SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.14 % to 856.26 tonnes on Monday from Friday. 

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