Gold edges lower ahead of Fed decision on interest rates

July 29 : Gold prices inched lower on Wednesday as the dollar held firm and market participants awaited the Federal Reserve's policy decision for clues on inflation and the path of U.S. interest rates.FUNDAMENTALS* Spot gold fell 0.1 per cent to $4,021.87 per ounce by 0052 GMT. U.S. gold futures for August delivery lost 0.4 per cent to $4,021.70.* The Fed will conclude its two-day policy meeting on Wednesday and is expected to hold interest rates steady. * Market expectations indicate a 70 per cent chance of a status quo and a 30 per cent probability of at least a 25-basis-point increase, according to the FedWatch tool. Markets are pricing in a 76 per cent chance of an increase in September. * Both the Bank of England and the Bank of Japan are widely expected to keep rates unchanged on Thu