Bengaluru — Gold edged lower early on Wednesday as the dollar firmed, with investors awaiting hints on the US Federal Reserve’s monetary policy stance following the central bank’s two-day meeting. The market is also looking forward to the impending naming of the next Fed chair, the Bank of England policy meeting on Thursday, and more data, including US payrolls figures on Friday. Spot gold was down 0.1% at $1,269.86 an ounce at 3.56am GMT. US gold futures for December delivery were nearly unchanged at $1,270.90. "Gold prices suffered under the weight of the stronger dollar. Investors’ appetites has been relatively weak as the currency has rebounded amid reports that President Donald Trump was close to announcing tax cuts," ANZ said in a note. "However, investors also remain cautious ahead of Trump’s announcement of a new chair for the Fed, as well as their monthly interest rate meeting." The Fed is scheduled to release its statement following its meeting on Wednesday at 2pm EDT. "A ...
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