Oct 30 (Reuters) - Gold prices held steady on Wednesday on
prospects of a delay in the U.S.-China trade pact, while
cautious investors awaited the Federal Reserve's decision on
interest rates later in the day.
FUNDAMENTALS
* Spot gold XAU= was steady at $1,488.23 per ounce at 0114
GMT. U.S. gold futures GCcv1 were unchanged at $1,490.40 per
ounce.
* Investors expect the U.S. Federal Reserve to cut interest
rates by 0.25 percentage point for the third time this year
later in the day, with Federal fund futures implying that
traders see a 94% chance for a 25 basis point rate cut.
* Meanwhile, an interim trade agreement between the United
States and China might not be completed in time for signing in
Chile next month as expected but that does not mean the accord
is falling apart, a U.S. administration official said on
Tuesday. * Both economies have imposed a series of tariffs on each
other for more than a year, stirring global recessionary fears.
* Gold, which is seen as a safe investment times of
political and financial uncertainty, has climbed more than 16%
so far this year.
* U.S. consumer confidence fell for a third straight month
in October amid concerns about the short-term outlook for
business conditions and job prospects, but remained at levels
consistent with continued growth in consumer spending.
* Asian shares were in tight ranges early, as the Fed's rate
cut prospect was offset by worries that the Sino-U.S.
first-stage trade deal could be delayed. MKTS/GLOB
* Britain will hold its first December election in almost a
century after Prime Minister Boris Johnson won approval from
parliament on Tuesday for an early ballot aimed at breaking the
Brexit deadlock. * SPDR Gold Trust GLD , the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.13% to 917.31
tonnes on Tuesday from 918.48 tonnes on Monday. GOL/ETF
DATA/EVENTS (GMT)
0030 Australia CPI QQ, YY Q3
0030 Australia RBA Weighted Medn CPI QQ, YY Q3
0030 Australia RBA Trimmed Mean CPI QQ, YY Q3
0630 France GDP Preliminary QQ Q3
0855 Germany Unemployment Chg, Rate SA Oct
1000 EU Consumer Confid. Final Oct
1100 Germany CPI Prelim YY, HICP Prelim YY Oct
1230 US GDP Advance Q3
1800 US Federal Reserve's Federal Open Market
Committee announces its decision on interest rates followed by
statement.
Bank of Japan holds Monetary Policy Meeting.