April 29 (Reuters) - Gold was largely steady on
Wednesday as investors awaited U.S. Federal Reserve Chair Jerome
Powell's comments to assess the Iran war's impact on the economy
amid stalled peace talks.
FUNDAMENTALS
* Spot gold was up 0.1% at $4,598.45 per ounce, as of
0055 GMT, after falling to its lowest level since April 2 in the
previous session.
* U.S. gold futures for June delivery rose 0.1% to
$4,612.10.
* Efforts to end the Iran conflict were at an impasse with
U.S. President Donald Trump unhappy with the latest proposal
from Tehran, which he said had informed the U.S. it was in a
"state of collapse" and figuring out its leadership situation.
* Investors expect the Fed to hold interest rates steady at
the end of its two-day meeting ending later in the day.
* Investors will also be focusing on other central bank
decisions this week, including those from the European Central
Bank, the Bank of England and the Bank of Canada.
* China, the world's top gold consumer, net imported 47.866
metric tons in March from Hong Kong, up from 46.249 tons in
February, Hong Kong Census and Statistics Department data showed
on Tuesday.
* Energy prices are expected to surge by 24% in 2026 to
their highest since Russia's full-scale invasion of Ukraine four
years ago, if the most acute disruptions caused by the war in
the Middle East end in May, the World Bank said on Tuesday.
* Oil prices closed up nearly 3% on Tuesday as persistent
worries about supply constraints from the closed Strait of
Hormuz outweighed concerns about the United Arab Emirates'
decision to leave OPEC and the wider OPEC+ group.
* Spot silver rose 0.1% to $73.12 per ounce, platinum
gained 0.1% to $1,942.60, while palladium was down
0.1% at $1,459.14.
DATA/EVENTS (GMT)
0900 EU Consumer Confid. Final Apr
1200 Germany CPI Prelim YY Apr
1200 Germany HCIP Prelim YY Apr
1230 US Durable Goods Mar
1230 US Housing Starts Number Mar
(Reporting by Noel John in Bengaluru; Editing by Subhranshu
Sahu)
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