Gold stalls as traders position for Fed rate decision

(Reuters) Gold was little changed on Wednesday as traders waited for the Federal Reserves interest rate signals at the end of the U.S. central banks meeting and Chair Jerome Powells remarks later in the day...

U.S. gold futures were also steady at $2,159.80...

If the (Fed) signals that theyre pushing back rate cuts further than anticipated, we could have a decent sell-off, but with the way golds traded, theres such a resounding safety demand right now in the market, said Bob Haberkorn, senior market strategist at RJO Futures...

Gold prices dipped nearly 1% last week after hotter-than-expected February U.S. consumer prices and producer prices slashed hopes of early Fed rate cuts due to the threat of persistent inflation...

While traders mostly expect the Fed to hold interest rates unchanged at its policy-making meeting, the focus will be on its dot plot projections afterwards...

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