SINGAPORE, May 1 Gold inched down on Wednesday,
with investors cautious as they wait to see if the U.S. Federal
Reserve sticks to its bullion-friendly monetary policy later in
* Spot gold had fallen $2.81 an ounce to $1,473.79 by
* U.S. gold stood at $1,473.90 an ounce, up $1.80.
* The Fed's policy-making committee ends its two-day
meeting on Wednesday with a statement that some believe could
sound relatively dovish in response to recent weak economic
* Fears that central banks' money-printing to buy assets
will stoke inflation have been a key driver in boosting gold,
which rallied to an 11-month high in October last year after the
Fed announced its third round of aggressive economic stimulus.
* SPDR Gold Trust, the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.19 percent to
1078.54 tonnes on Tuesday, their lowest since September 2009.
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* The dollar was pressured on Wednesday ahead of the outcome
of the Fed policy meeting, while the euro drifted on
expectations for a rate cut when the European Central Bank meets
later in the week.
* Japan's Nikkei average slipped in early trade on
Wednesday, after posting its best April performance in 20 years,
hurt by disappointing earnings guidance from semiconductor
equipment maker Tokyo Electron Ltd 8035.T.
0100 China Official manufacturing PMI
1215 U.S. ADP employment report
1400 U.S. Construction spending
1400 U.S. ISM manufacturing PMI
1800 Federal Reserve's FOMC announces policy decision
Precious metals prices 0034 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1473.79 -2.81 -0.19 -11.99
Spot Silver 24.24 -0.04 -0.16 -19.95
Spot Platinum 1501.74 -1.76 -0.12 -2.17
Spot Palladium 695.47 0.47 +0.07 0.50
COMEX GOLD JUN3 1473.90 1.80 +0.12 -12.05 2582
COMEX SILVER MAY3 24.26 0.12 +0.48 -19.75 9
(Reporting by Lewa Pardomuan; Editing by Joseph Radford)