Gold prices edged higher on Tuesday, with investors looking forward to the Federal Reserve policy meeting as expectations grew that the U.S. central bank would slow its monetary policy tightening given the upheaval in the banking sector.
Spot gold was up 0.2% at $1,982.59 per ounce, as of 0317 GMT. U.S. gold futures also rose 0.2% to $1,986.30.
"Gold is trading around the $1,980 level and well within yesterday's range, which was clearly a game of two halves," said Matt Simpson, a senior market analyst at City Index. Gold is considered a safe haven during times of financial uncertainty, and lower interest rates make non-yielding bullion more attractive by reducing the opportunity cost of holding it.
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