Gold rises as U.S. data puts dollar under pressure

 

Gold prices rose on Tuesday as softer than expected U.S. data pressured the dollar, but moves were muted ahead of a closely-watched Federal Reserve meeting starting later on Tuesday.

The Fed is tipped to announce the end of its massive bond-buying stimulus programme, known as quantitative easing (QE), at the conclusion of the two-day meeting on Wednesday.

Spot gold was up 0.4 percent at $1,230.05 an ounce by 1449 GMT, while U.S. gold futures for December delivery were up 80 cents an ounce at $1,230.10.