Dec 11 (Reuters) - Gold prices moved in narrow range on
Wednesday, as cautious investors held back from making big bets
ahead of U.S. Federal Reserve's monetary policy statement later
in the day and amid a looming tariff deadline.
FUNDAMENTALS
* Spot gold XAU= was little changed at $1,464.01 per ounce
by 0104 GMT. U.S. gold futures GCcv1 were flat at $1,468.40.
* Palladium XPD= was unchanged at $1,895.72 an ounce. The
autocatalyst metal hit a record peak of $1,903 in the previous
session on supply woes following power outages in South Africa.
* Mines across South Africa shut down after flash flooding
triggered the most severe power blackouts in more than a decade,
forcing major miners Harmony Gold, Impala Platinum, and
Sibanye-Stillwaterto cut output. * Investors maintained a cautious stance as U.S. President
Donald Trump has to decide whether to impose tariffs on nearly
$160 billion in Chinese consumer goods just weeks before
Christmas. * Trade negotiators from both sides were planning for a
delay of the December tariffs, according to a Wall Street
Journal report.
* This followed comments from the U.S. Agriculture Secretary
Sonny Perdue on Monday that Trump wants "movement" from China to
avoid next round of scheduled tariffs against Chinese goods.
* Choppy trading ahead of the Fed verdict also kept equities
and the greenback muted. USD/ MKTS/GLOB
* The Fed is set to share the statement of their December
policy meeting later in the day, followed by Fed Chair Jerome
Powell's news conference where investors will look for cues
about the health of U.S. economy. FEDWATCH
* Powell has taken a glass-half-full view of the U.S.
economy but the trouble may be that the glass has gotten smaller
and has a few cracks. * Holdings of the world's largest gold-backed
exchange-traded fund SPDR Gold Trust GLD fell 0.03% to 885.93
tonnes on Tuesday. * In other precious metals, silver XAG= was flat at $16.65
per ounce, while platinum XPT= fell 0.4% to $918.12.
DATA/EVENTS (GMT)
1330 US CPI MM, SA Nov
1900 US Federal Reserve's Federal Open Market Committee
announces its decision on interest rates followed by statement
1930 US Federal Reserve chairperson holds news conference