WASHINGTON (dpa-AFX) - Gold prices held steady on Wednesday and the dollar was little changed ahead of the highly anticipated Federal Reserve's interest-rate decision later in the day.
Spot gold was little changed at $2,48.19 in European trade while U.S. gold futures were up 0.1 percent at $2,663.44.
The Fed is widely expected to lower rates by another quarter point, with traders likely to pay close attention to the accompanying statement as well as officials' updated economic projections, including their forecasts for rates.
Expectations of multiple reductions next year are fading amid a resilient labor market and stubborn inflation.
The Bank of Japan and Bank of England are also holding their final policy meetings of 2024 this week, with both expected to leave their key policy rates unchanged.
Rather than the rate decisions, markets are likely to focus on the underlying messages for additional clues on the inflation and economic outlooks for next year in the wake of expected changes in the U.S. under the incoming Trump administration.
In economic releases, U.S. MBA mortgage approvals, building permits for November, current account data for the third quarter and housing starts for November are slated for release in the New York session.
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