• Gold futures on the COMEX division of the New York Mercantile Exchange slipped on Tuesday, one day ahead of the Federal Reserve's decision on interest rates. The most active gold contract for April delivery fell 0.5 U.S. dollars, or 0.04 percent, to settle at 1,202.60 dollars per ounce.
• Traders are almost entirely focused on the Federal Open Market Committee (FOMC) meeting which began on Tuesday. Analysts believe the Fed may raise rates from 0.75 to 1.00 during its two-day discussions.
• According to the CME Group's Fedwatch tool, the current implied probability of a hike from 0.50 to at least 0.75 is at 93 percent at the March meeting and 88 percent for the May meeting, along with a 6 percent chance of an increase to a 1.0 rate.
• Traders are waiting for Wednesday, when the FOMC announces its decision on interest rates.
• Elsewhere, investors were focusing on Wednesday's Dutch elections, which have been boosting gold's safe-haven appeal.
• The anti-Islam Party for Freedom is seen as having little chance of coming to power, but a strong election performance for the group would fuel worries over a surprise result in French presidential elections in April and May.
• In Britain, concerns have increased over a second Scottish independence referendum and the triggering of Article 50, which would formally begin British negotiations to leave the European Union.
• Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 2.96 tonnes at 834.99 tonnes on Tuesday.
• Silver for May delivery fell 4.9 cents, or 0.29 percent, to close at 16.923 dollars per ounce.
Reference: Xinhua, Business News
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