Bengaluru— Gold was firm on Tuesday, having recovered from a more than two-week low hit in the previous session, as traders waited to gauge the path of US monetary policy for the rest of the year from the two-day Federal Reserve meeting that kicks off later in the day.Spot gold was flat at $1,316.44/oz at 3.53am GMT. In the previous session, it touched $1,307.51/oz, its lowest since March 1.US gold futures for April delivery dropped 0.1% to $1,316.10/oz."While the market has all but factored-in a rate hike, the focus will remain on the commentary and whether Fed chair Jerome Powell hints at further rate hikes in 2018," ANZ analysts said in a note. Powell is expected to raise interest rates and signal three more increases this year at the Fed policy meeting. Although a rate increase had been factored into the current price, uncertainty remained as to how further tariffs in the US would affect global trade, said Cameron Alexander, an analyst with Thomson Reuters-owned metals consultan...
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