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Gold holds ahead of Fed's decisions
Gold prices steadied on Wednesday, as investors shied away from building new positions amid anticipation of the US Federal Reserve's decisions.
Gold prices held at $1,775.25 an ounce as of 09:18 GMT, after opening at $1,773.93, and hit a high of $1,780.32 and a low $1,772.36.
Gold closed higher by 0.6% yesterday, after hitting 6-week low at $1,742.02 an ounce.
Gold prices rose due to investors' risk aversion and rising safe haven demand due to concerns over the Evergrande Company crisis.
The US Federal Reserve's monthly meeting will conclude later today, amid expectations of holding the benchmark interest rate near zero.
The decision will be reveled at 18:00 GMT, and will be followed by a press conference from the Fed Chief Jerome Powell at 18:30 GMT to comment on monetary policy.
The meeting is expected to offer some clues on the pace of cutting down the bonds purchases program before the end of this year.
Gold stocks at the SPDR ETF fell 0.87 metric tonnes yesterday, with the total at 1000.79 metric tonnes.
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