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PRECIOUS-Gold steady as dollar softens, investors eye Fed meeting

    Sept 15 (Reuters) - Gold prices held steady on Tuesday,
following a sharp rise in the previous session, as the dollar
remained subdued ahead of the U.S. Federal Reserve's monetary
policy meeting that could provide more clues on stimulus
measures and inflation targeting.
    
    FUNDAMENTALS
    * Spot gold        was flat at $1,956.17 per ounce by 0024
GMT after gaining 1% on Monday.
    * U.S. gold futures        ticked up 0.1% at $1,966.40.
    * The dollar index        was little changed after posting
its worst day in more than two weeks in the last session. A
weaker greenback makes gold less expensive for holders of other
currencies.       
    * Asian shares looked set to open lower on Tuesday, although
positive developments around potential COVID-19 vaccines and
increased deal activity are likely to stem losses.            
    * More than 29.11 million people have been reported to be
infected by the novel coronavirus globally and 924,141​ have
died, according to a Reuters tally.             
    * Market participants are now looking at the U.S. Fed's
two-day policy meeting, which ends on Wednesday. The meeting
will be its first since Chairman Jerome Powell unveiled a policy
shift towards greater tolerance of inflation, effectively
pledging to keep interest rates low for longer.
    * Meanwhile, U.S. Treasury Secretary Steven Mnuchin and
Federal Reserve Chairman Jerome Powell will testify before the
Senate Banking Committee on coronavirus relief, the committee
said in a statement on Monday.             
    * British Prime Minister Boris Johnson lashed out at the
European Union on Monday as he won initial approval for a plan
to breach the Brexit treaty.             
    * Gold is often used as a safe store of value during times
of political and financial uncertainty.
    * Silver        eased 0.1% to $27.12 per ounce, platinum
       was little changed at $954.50, while palladium       
dipped 0.2% to $2,308.81.

    DATA/EVENTS (GMT)
0200  China    Urban Investment (YTD) YY   Aug
0200  China    Industrial Output YY        Aug
0200  China    Retail Sales YY             Aug
1000  EU       Reserve Assets Total        Aug
1315  US       Industrial Production MM    Aug

 (Reporting by Brijesh Patel in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
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