LONDON: Gold steadied on Wednesday as the dollar firmed ahead of a Federal Reserve policy decision and as receding worries over global economic growth led investors to buy equities and to sell assets perceived as safe havens.

Spot gold was flat at $1,248.22 per ounce at 1415 GMT. US gold futures for August delivery fell 0.3 per cent to $1,247.90 per ounce.

Company results and economic data have been upbeat of late. Germanys Ifo business survey on Tuesday also showed confidence, soaring to record highs in July, while US consumer confidence levels jumped to near 16-year highs, boosting the dollar.

Published in Dawn, July 27th, 2017