Bengaluru — Gold prices traded sideways in a narrow range on Tuesday, with investors in a wait-and-see mode ahead of the outcome of central bank monetary policy meetings. Spot gold was unchanged at $1,221.24/oz at 3.40am GMT. US gold futures were 0.1% lower at $1,219.80/oz. Investors are awaiting a Bank of Japan (BoJ) monetary policy decision on Tuesday. The bank is expected to trim its inflation forecasts and consider changes to its massive stimulus programme, reflecting a growing recognition it will take longer than expected to meet its elusive price goal. The yen see-sawed against the dollar as investors eagerly awaited the outcome. The greenback was nearly unchanged versus the yen. Later in the day, the US Federal Reserve begins its two-day monetary policy meeting. The central bank is widely expected to stand pat on monetary policy but investors will be looking for clues on the bank’s rate hike path. "There’s no clear direction for investors to really play on, and I suppose unti...
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