Gold nudges up as investors await Fed verdict

Gold steadied on Tuesday as investors awaited policy cues from a two-day U.S. Federal Reserve meeting, while the metal drew some support from a slight dip in U.S.

Treasury yields and the dollar. Spot gold rose 0.2% to $1,735.44 per ounce. U.S. gold futures were up 0.2% at $1,732.90.

“Gold should have found a bottom but the big risk is the Fed, and if the Fed does not push back against the bond market, you could see that one-day of panic selling (in gold),” said Edward Moya, senior market analyst at OANDA.

The U.S. Federal Open Market Committee’s two-day meeting ends on Wednesday.