Gold Stabilizes as Investors Await The Fed

Gold settled on Tuesday as market participants awaited the US Federal Reserve’s important policy meeting, in the face of mounting inflationary pressures and fears of slowing economic growth.

There was little change in gold in spot transactions, as it recorded 1793.60 dollars an ounce (an ounce) by 0649 GMT. US gold futures rose 0.1 percent to $1,796.70.

Benchmark 10-year bond yields remained above 1.5 percent on Tuesday, but well below multi-month highs of around 1.7 percent hit last month.

As for other precious metals, silver fell in spot transactions 0.3 percent to $23.94 an ounce. Platinum fell 0.7 percent to $ 1056.38, and palladium fell 0.1 percent to $ 2044.97.