Gold prices steady amid cautious mood, focus shifts to Fed
(Reuters) - Gold prices were little changed on Wednesday as investors maintained a cautious stance ahead of the conclusion of U.S.
(Reuters) - Gold prices were little changed on Wednesday as investors maintained a cautious stance ahead of the conclusion of U.S. Federal Reserve's two-day meeting, where policymakers are expected to cut interest rates.
** Spot gold
** U.S. gold futures
** The dollar traded near a seven-week high versus the yen as oil markets recovered from a supply shock, while global stocks stood little changed ahead of Fed's policy decisions. [USD/] [MKTS/GLOB]
** Late-day swings in U.S. Federal funds futures implied late on Tuesday that traders see about a 51% chance that the Fed will lower key borrowing costs by 25 basis points after the policy-setting committee meets on Wednesday, according to the CME Group's FedWatch tool.
** U.S. manufacturing output increased solidly in August, boosted by a surge in the production of machinery and other goods, but the outlook for factories remains weak amid rising headwinds from trade tensions and slowing global economies.
** The United States believes the attacks that crippled Saudi Arabian oil facilities last weekend originated in southwestern Iran, a U.S. official told Reuters on Tuesday, an assessment that further increases tension in the Middle East.
** U.S. President Donald Trump said on Tuesday his administration could seal a deal on trade with China before the U.S. presidential election, or an agreement could be reached the day after U.S. voters go to the polls.
** UK Prime Minister Boris Johnson could recall parliament if Britain's highest court rules he unlawfully suspended it, a government lawyer said on Tuesday, after judges heard that Johnson wanted a shutdown because it was an obstacle to his Brexit plans.
** The mood among German investors improved more than expected in September, a survey showed on Tuesday, but the ZEW institute warned that the outlook for Europe's largest economy remained negative due to trade disputes and Brexit uncertainty.
** Japan's exports slipped for a ninth straight month in August as international trade tensions ramped up risks for the world's third-largest economy, although the decline was slightly smaller than expected.
** A fresh gold discovery by Barrick Gold Corp
(Reporting by Eileen Soreng in Bengaluru, Editing by Sherry Jacob-Phillips)
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