PRECIOUS-Gold little changed ahead of Fed meeting, U.S. tariff deadline

(Updates prices)
* U.S. Fed's policy meeting set to begin later in the day
* Palladium's next logical resistance level at $2,000-
analyst
* GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl

By Sumita Layek
Dec 10 (Reuters) - Gold was trading in a tight range on
Tuesday ahead of a two-day rate-setting meeting by the U.S.
central bank, with investors awaiting clarity on whether a next
round of U.S. tariffs on Chinese goods will come into effect
this weekend.
Spot gold XAU= was up 0.1% to $1,462.97 per ounce by 0734
GMT. U.S. gold futures GCcv1 rose 0.2% to $1,467.30.
"Both the events could be potential catalysts for gold,
prices could go down if Fed is more hawkish biased. However, in
case the U.S. and China can't reach any resolution and tariffs
kick in, traders will move back to the safe-haven gold," said
Margaret Yang Yan, a market analyst at CMC Markets.
Both the United States and China have adopted a
reconciliatory tone, with China saying it hoped to make a deal
as soon as possible.
President Donald Trump has said he was working with Beijing
on an agreement ahead of new tariffs on $156 billion worth of
Chinese imports on Dec.15.
"Given that we are tilting toward some sort of the deal
being reached with the Chinese, we think both gold and silver
will struggle going into year-end and see a lower trading range
for both over the next few weeks," said Edward Meir at ED&F Man
Capital Markets in a note.
The impact of a prolonged trade war on economic growth has
led the U.S. Federal Reserve to cut rates three times this year,
sparking demand for bullion. Gold is now on track for its best
year in almost a decade.
Most Fed policymakers have stressed on keeping the interest
rates steady unless the economic outlook deteriorates. The Fed
is widely expected keep interest rates on hold in the range of
1.50% to 1.75%. FEDWATCH
Spot gold is expected to test a support at $1,455 per ounce,
a break below could cause a fall to $1,440, said Reuters
technical analyst Wang Tao. TECH/C
Palladium XPD= rose 0.3% to $1,887.73 an ounce. Prices had
climbed to an all-time high of $1,898.50 on Monday.
The autocatalyst metal, used in vehicle exhausts to reduce
harmful emissions, has risen more than 49% this year.
"The rally so far this year has been driven by tight supply,
reflected in a persistent back in the forward curve and elevated
lease rates," Meir said.
"We suspect that palladium has more room to run, with $2,000
looking to be the next logical resistance level."
Silver XAG= rose 0.2% to $16.64, while platinum XPT=
gained 0.6% to $900.03.