2021.04.2710:23:00UTC+00Gold Steadies Ahead Of Fed Meeting

Gold prices held steady on Tuesday as market participants looked for direction from a two-day policy meeting of the Federal Reserve starting later in the day.

Spot gold was little changed at $1,781.88 per ounce, while U.S. gold futures were up 0.1 percent at $1,781.40 per ounce.

Yields rose and the dollar strengthened for the first time in three days ahead of a $62 billion auction of 7-year notes later today.

No major policy changes are expected from the Fed's two-day policy meeting ending on Wednesday, with investors likely to pay close attention to Chair Jerome Powell's comments after the meeting.

Earlier today, the Bank of Japan maintained its massive stimulus and raised its growth forecasts for the world's third-largest economy, citing expected stronger demand.

Elsewhere, Sweden's central bank retained its key interest rate and the asset purchase program to support economic recovery and subdued inflation.