12.12.201708:00:00UTC+00Gold Teeters Ahead Of Fed Rate Call

Gold prices continued to drift lower Tuesday as the Federal Reserve gathered to make its latest interest rate decision.

The Fed's two-day meeting will almost certainly culminate tomorrow with an interest rate hike, the third of the year.

Gold was down $2 at $1245 an ounce, the lowest since July.

The Bureau of Labor Statistics' Producer Price Index or PPI for November will be announced at 8.30 am ET. Consumer price data follows tomorrow.

The Redbook data, a measure of comparable store sales at chain stores, discounters, and department stores for the week will be issued at 8.55 am ET. In the prior week, the Store sales were up 3.0 percent.