June 18 (Reuters) - Gold held steady in early Asian trade on
Tuesday as investors awaited the start of a two-day monetary
policy meeting of the U.S. Federal Reserve for clues on interest
rates.
FUNDAMENTALS
* Spot gold XAU= was steady at $1,340.51 as of 0126 GMT.
* U.S. gold futures GCv1 were almost unchanged at $1,343
an ounce.
* The Fed, facing fresh demands by U.S. President Donald
Trump to cut interest rates, begins a two-day meeting later on
Tuesday, with expectations running high the central bank is
poised to cut interest rates this year.
* However, the central bank is expected to leave borrowing
costs unchanged this time but possibly lay the groundwork for a
rate cut later this year. * The European Central Bank is also holding a forum in
Portugal this week, with the Bank of Japan set to hold its
policy meeting later in the week. * Investor caution ahead of the Fed's interest rate meeting
capped Asian stocks on Tuesday, while crude oil prices retreated
as global growth worries overshadowed supply concerns stemming
from recent Middle East tensions. MKTS/GLOB
* U.S. Treasury yields fell on Monday, weighed down by
softer-than-expected U.S. economic data and persistent pressure
from the trade conflict with China. US/
* The dollar index .DXY against a basket of six major
currencies stood little changed after pulling back from a
two-week high on the decline in Treasury yields.
* Newmont Goldcorp NEM.N said on Monday it had resumed
shipping concentrate from the Peñasquito gold mine in Mexico
after a blockade by a trucking contractor and some members of
the Cedros community was lifted. * Switzerland's Metalor, one of the world's biggest gold
refineries, said on Monday it would work only with gold from
large industrial mines in order to reduce the risk of illegality
in its supply chain. DATA AHEAD (GMT)
* 0900 EU HICP Final MM YY May
* 0900 EU Eurostat Trade NSA, Eur April
* US Federal Open Market Committee starts