WASHINGTON (dpa-AFX) - Gold held steady above $2,760 per ounce on Wednesday as the dollar struggled to build on the previous session's gains ahead of the Federal Reserve's decision on interest rates.
Spot gold was marginally lower at $2,762.98 per ounce in European trade while U.S. gold futures were up 0.1 percent at $2,798.24.
The dollar was little changed following two days of consecutive advances.
A cautious undertone prevailed as traders looked ahead to the Federal Reserve's monetary policy announcement later in the day for directional cues.
The Fed is widely expected to leave interest rates unchanged against a backdrop of healthy demand and stubborn inflation.
Traders are likely to pay close attention to the accompanying statement for clues about the outlook for rates in 2025.
Amid much uncertainty about the impact of the Trump administration's policies, it looks like that interest-rate cuts may be on a lengthy pause and the next rate cut may come only sometime in the first half of the year.
Markets also eye rate decision from the European Central Bank, which is expected to diverge from the Fed and cut rates by 25 basis points on Thursday.
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