Gold Remains Steady Below $1100 Ahead of Fed

Gold languished near its weakest level since early 2010 on Tuesday, with no meaningful recovery seen as expectations for a U.S. interest rate increase grow.

The Federal Reserve begins a two-day meeting later in the day where policymakers are likely to signal further that a rate hike later in the year is certain as the U.S. economy strengthens.

Spot gold was flat at $1,093.45 an ounce by 0051 GMT. Bullion fell to as low as $1,077 on Friday, its cheapest since February 2010, stretching its losing run to a fifth straight week.


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