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Gold steady ahead of Fed meet

Gold was steady on Wednesday, with investors taking a wait-and-see stance ahead of the outcome of a two-day US Federal Reserve meeting.

Spot gold was flat at USD 1,310.93 an ounce at 0039 GMT. US gold futures for December delivery were up 0.3% to USD 1,314.40 an ounce.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings rose 0.25% to 846.03 tonnes on Tuesday from 843.96 tonnes on Monday.

The dollar was steady versus the yen and against a basket of currencies early on Wednesday. Asian shares were mostly steady after Wall Street closed at record highs.

US President Donald Trump heightened his standoff with North Korea over its nuclear challenge on Tuesday, threatening to ‘totally destroy’ the country of 26 million people and mocking its leader, Kim Jong Un, as a ‘rocket man’.

European Central Bank policymakers disagree on whether to set a definitive end-date for their money-printing programme when they meet in October, raising the chance that they will keep open at least the option of prolonging it again, as per leading news daily.