WASHINGTON (dpa-AFX) - Gold prices rose on Tuesday, bond yields fell, and the dollar weakened as investors braced for the Fed meeting.
Spot gold rose about 1 percent to $1,650.30 per ounce, while U.S. gold futures were up 0.8 percent at $1,652.95.
A two-day policy meeting of the Federal Reserve gets underway later today, with investors looking for any indications of a slowdown in the pace of rate hikes in the coming months.
The Fed decision is due on Wednesday, with economists expecting a rate hike of 75 basis points for a fourth consecutive meeting.
The accompanying policy statement and Fed Chief Jerome Powell's news conference may provide additional clues regarding the likelihood of a pivot by the U.S. central bank.
The British pound was higher against a weaker dollar ahead of a Bank of England policy meeting due Thursday.
Earlier today, the Reserve Bank of Australia raised its target cash rate by 25 basis points, but hiked its inflation forecast and trimmed its GDP outlook.
In economic releases, U.S. construction spending for September and ISM manufacturing index for October will be out in the New York session.
The Labour Department will release the all-important U.S. jobs report for October on Friday, with economists expecting a job growth of 200,000 in October, down from an increase of 263,000 jobs in September.
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