Gold holds steady as traders watch US-Iran deal, await Fed decision

WASHINGTON, United States — Gold prices traded flat on Tuesday as investors monitored developments in a preliminary agreement between the United States and Iran and awaited the Federal Reserve's interest-rate decision. Spot gold rose 0.2 percent to $4,315.87 per ounce, while US gold futures slipped 0.3 percent to $4,337.10 per ounce. The cautious trading came a day after gold jumped 3.6 percent to its highest level in more than a week, following US President Donald Trump's announcement that Washington and Tehran had reached a preliminary deal. Traders are now awaiting further details and assessing whether the agreement can translate into a lasting ceasefire. Attention is also turning to the Fed's policy meeting on Wednesday, with broad market expectations that the central bank will leave interest rates unchanged. The decision could shape the near-term direction of the dollar and bullion. Elsewhere in precious metals, silver fell 1 percent to $69.29 per ounce, platinum dropped 0.9 percent to $1,751.55, and palladium declined 1.6 percent to $1,327.27.