Gold prices fell on Tuesday as traders took to the sidelines ahead of a Federal Reserve policy meeting they hope will give greater clarity on the outlook for U.S. monetary policy.
The Fed meets this week amid intense speculation that it may rein in its $85 billion-a-month bond-buying programme after firmer than expected economic data this year and a rally in stock markets.
The programme, part of the Fed's quantitative easing (QE) policy to stimulate U.S. growth, has helped to drive gold prices to record highs in recent years by keeping up pressure on long-term interest rates and stoking inflation fears.
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