Gold prices mix as investors await outcome of US Fed meeting

Gulf Today Report 

Gold prices mixed on Tuesday as investors keep an eye on the US Federal Reserve meeting on inflation and bond yields, however, appetite for riskier assets grew.

Spot gold was flat at $1,731.89 per ounce at 03:24 GMT while US gold futures rose 0.1% to $1,730.40 per ounce.

DailyFX strategist Margaret Yang said, "the Fed may address rising inflation concerns and even consider to push forward asset purchasing to compensate for the rising yields and that would be very positive for gold prices." 

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ANZ analysts said the decline in recent selloff on bonds has aided in steadied gold.

According to data, gold holdings in the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, fell 0.2% to 1,050.32 tonnes on Monday.