PRECIOUS-Gold steady after slide below key $1,500 level

* Fed widely expected to cut rates by 25 basis points
* Spot gold may test support at $1,483/oz -techs
* GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl

(Adds quote, updates prices)
By Harshith Aranya
Aug 20 (Reuters) - Gold prices were steady on Tuesday, after
skidding below a key level in the previous session following an
uptick in risk appetite, with investors awaiting meetings by
policymakers later this week for clues on the path forward for
interest rate cuts.
Spot gold XAU= was little changed at $1,497.07 per ounce
at 0640 GMT, slightly above the near one-week low of $1,492.10
hit in the previous session.
Gold fell 1.2% on Monday, below the key level of $1,500 and
its biggest daily decline since July 19.
"There is not a lot of conviction in today's trading session
for gold... Investors have gained some more confidence about the
growth outlook and that weighs on gold," said Michael McCarthy,
chief market strategist at CMC Markets.
U.S. gold futures GCcv1 dipped 0.3% to $1,507.80 an ounce.
Hopes for additional stimulus are rising after reports that
Germany is prepared to increase fiscal spending and People's
Bank of China took steps to lower corporate borrowing costs.
"Gold markets continue to struggle under the weight of
positive risk sentiment, but the downside momentum suggests we
may be one positive trade headline away from testing $1,490,
which could trigger a dash for the exits," Stephen Innes,
managing partner, VM Markets, said in a note.
Meanwhile, the U.S. dollar held near a three-week high as an
improvement in appetite for riskier assets lifted yields on U.S.
government bonds. USD/
Investors are now focused on minutes from the U.S. Federal
Reserve's July meeting due on Wednesday and the Fed's Jackson
Hole seminar later in the week for clues on monetary policy
thinking. Also on their watch list will be a Group of Seven
summit this weekend.
Traders see about an 86% chance of a 25 basis-point interest
rate cut by the Fed in September. FEDWATCH
However, Boston Federal Reserve Bank President Eric
Rosengren on Monday signalled no willingness to support further
interest rate cuts.
Spot gold may test a support at $1,483 per ounce, a break
below which could cause a fall to $1,467, according to Reuters
technical analyst Wang Tao. Elsewhere, silver XAG= rose 0.4% to $16.93 per ounce.
Platinum XPT= was up 0.3% at $852.78 an ounce, while
palladium XPD= also climbed up 0.3% to $1,478.27.