Gold Prices Nearly Flat As Investors Wait For Fed Outcome - Commodity Market Tips

Gold was steady on Wednesday, with investors in wait-and-see mode ahead of the outcome of a two-day Federal Reserve meeting in the United States.

Fundamentals

* Spot gold was flat at $1,310.93 an ounce at 0039 GMT.

* U.S. gold futures for December delivery were up 0.3 percent to $1,314.40 an ounce.

* SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.25 percent to 846.03 tonnes on Tuesday from 843.96 tonnes on Monday.

* The dollar was steady versus the yen and against a basket a currencies early on Wednesday.

* Asian shares were mostly steady after Wall Street closed at record highs.

* U.S. home-building fell for a second straight month in August as a rebound in the construction of single-family houses was offset by persistent weakness in the volatile multifamily home segment.

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