18.09.201906:37:00UTC+00Gold Prices Little Changed Ahead Of Fed Decision

Gold prices were little changed on Wednesday and the dollar index held steady as investors awaited the outcome of a Federal Reserve meeting later in the day and looked for progress in U.S.-China trade talks.

Spot gold was virtually unchanged at $1,501.45 per ounce, while U.S. gold futures were down 0.3 percent at $1,509.05 per ounce.

The Federal Reserve is expected to announce a rate cut of at least 25 basis point to prop up slowing economic growth at the end of a two-day policy meeting later in the day.

Traders will pay closer attention to the accompanying statement for clues about the long-term outlook for rates.

On the trade front, investors remain skeptical about whether the next round of face-to-face talks between U.S. and Chinese officials this week would lead to a speedy resolution of a long-running trade dispute.