2021.06.1510:35:00UTC+00Gold Little Changed As Focus Shifts To Fed Meeting

Gold held little changed near the lowest in four weeks on Tuesday as traders await the U.S. Federal Reserve's monetary policy meeting for any signs of a shift in its policy outlook.

Spot gold dipped 0.1 percent to $1 864.19 an ounce, after having hit a low of $1 844.92 on Monday, the lowest since May 17. U.S. gold futures were little changed at $1,866.75.

The two-day policy meeting of the Federal Reserve begins later in the day, with investors seeking hints on any change to the U.S. monetary policy.

Although the Fed has repeatedly assured that any rise in inflation would be transitory, market participants remain cautious of a hawkish surprise at this meeting.

The dollar held firm and benchmark 10-year note yields edged higher to 1.485 percent as investors await comments from Fed Chair Jerome Powell for signals on a timeline for paring stimulus.

In economic releases, reports on U.S. retail sales, PPI and industrial production for May and NAHB housing market index for June will be out in the New York session.