Spot bullion steadies as traders await the outcome of a Federal Reserve meeting on Wednesday. The central bank is projected to lower borrowing costs for a third straight meeting.
In an interview on Tuesday, U.S. Treasury Secretary Steven Mnuchin said he is open to loosening financial crisis-era regulations that have stiffened liquidity rules for big banks to relieve possible cash crunches in short-term funding markets.
Spot gold steadies at $1,489.04/ton at 9:02am in Singapore, after two days of declines.
Source : Bloomberg