PRECIOUS-Gold holds ground as waits on Fed for stimulus outlook
SINGAPORE, Oct 30 (Reuters) - Gold was treading water below five-week highs on Wednesday, as investors awaited the end of a Federal Reserve policy meeting to gauge the bank's stimulus outlook.
* Spot gold eased 0.05 percent to $1,343.06 an ounce by 0019 GMT. The metal fell 0.6 percent on Tuesday after the dollar index rose to one-week highs as traders booked profits.
* Gold miners are likely to keep cutting their forward sales of the metal this year after reducing outstanding positions by another 16 tonnes in the second quarter, Societe Generale and Thomson Reuters GFMS said on Tuesday.
* Hedge funds and money managers raised bullish bets in futures and options of U.S. gold and silver markets for the week ended Oct. 8, the latest report by the Commodity Futures Trading Commission showed.
* Chinese gold prices closed lower than global prices on Tuesday for the first time this year as fears of a credit tightening prompted investors to sell bullion for cash. Indian premiums stayed near record highs due to a supply crunch.
* A gauge of U.S. consumer spending rose in September, but falling car sales pointed to sluggish economic growth.
* The Fed will make a statement later on Wednesday at the end of its two-day policy meeting. The bank is widely expected to say it will stay on course with its stimulus measures and will not reduce any asset purchases.
* For the top stories on metals and other news, click , or
* U.S. stocks closed at historic highs on hopes that the Fed will maintain its stimulus, while the dollar traded at one-week highs against a basket of major currencies early in Asia on Wednesday.
DATA/EVENTS (GMT) 0855 Germany Unemployment rate 1000 Euro zone Business climate 1000 Euro zone Economic sentiment 1215 U.S. ADP employment report 1230 U.S. CPI 1300 Germany CPI 1800 Federal Reserve releases statement after two-day monetary policy meeting
Precious metals prices 0019 GMT
Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1343.06 -0.63 -0.05 -19.80 Spot Silver 22.44 -0.08 -0.36 -25.89 Spot Platinum 1456.00 -4.00 -0.27 -5.15 Spot Palladium 741.72 -2.28 -0.31 7.18 COMEX GOLD DEC3 1343.20 -2.30 -0.17 -19.85 1089 COMEX SILVER DEC3 22.48 -0.01 -0.05 -25.82 243 Euro/Dollar 1.3736 Dollar/Yen 98.24
COMEX gold and silver contracts show the most active months
(Reporting by A. Ananthalakshmi; Editing by Richard Pullin)