WASHINGTON (dpa-AFX) - Gold consolidated around $4,200 per ounce on Tuesday as a two-day policy meeting of the Federal Reserve gets underway later today.
Spot gold rose 0.4 percent to $4,205.50 an ounce while U.S. gold futures were up 0.4 percent at $4,233.85.
The U.S. dollar was largely flat ahead of the Federal Reserve's interest-rate decision on Wednesday, where the U.S. central bank is broadly expected to deliver a 25 basis-point rate cut despite existing divisions with the committee.
Traders remain anxious about the Federal Reserve's future easing pace, given conflicting trends of a cooling job market and sticky inflation, as well as gaps in the data from the government shutdown.
Kevin Hassett, a top candidate to take over the role of Fed chair, advised against setting a fixed rate plan over the next six months.
The White House National Economic Council Director emphasized the importance of monitoring economic data in a CNBC interview Monday.
The day's economic calendar remains light, with a report on U.S. job openings for October likely to garner attention.
On the geopolitical front, Vladimir Putin's forces are gaining territory in Ukraine as negotiations on a U.S.-led peace plan appear no closer to ending the war.
The leaders of the U.K. and France have expressed concerns for firm security guarantees for Ukraine, while Germany's chancellor voiced skepticism over details coming from the United States.
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