London — Gold edged up on Tuesday from the previous day’s two-week low, as the dollar eased ahead of this week’s Federal Reserve meeting, which is expected to provide more clues on the pace of US monetary tightening. The dollar fell 0.3% against the euro ahead of the two-day talks, with markets awaiting guidance on whether the Fed will signal a further hike in interest rates at its December meeting. Spot gold was up 0.1% at $1,308.36 an ounce at 9.50am GMT, off the previous day’s low of $1,304.10. US gold futures for December delivery were up $1.10 an ounce at $1,311.90. The US central bank is also expected to announce moves to shrink its $4.5 trillion asset portfolio, built up to spur economic growth in the wake of the financial crisis that began a decade ago. "Normally you would expect gold to suffer from a reduction of the balance sheet, as it benefited when it was increased," Capital Economics analyst Simona Gambarini said. "But as the Fed has been quite open about its intention...
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