PRECIOUS-Gold steady near $1,100/oz, Fed eyed

                                
 TOKYO, Jan 27 (Reuters) - Gold held steady near $1,100 an
ounce on Wednesday, supported by consistent retail demand from
Asia, while investors were mostly cautious ahead of key events,
including a U.S. rate decision later in the day.
                                
 FUNDAMENTALS
                                
 * Spot gold <XAU=> was up 0.1 percent at $1,098.05 per ounce
as of 0009 GMT, compared to New York's notional close of
$1,097.25.
                                
 * U.S. gold futures for February delivery <GCG0> inched down
to $1,097.70 per ounce, compared to $1,098.30 at the close on the
COMEX division of the New York Mercantile Exchange.
                                
 * Investors are watching any influence on the dollar that
could affect gold from the Federal Reserve's interest rate
decision later in the day. President Barack Obama's State of the
Union speech is also due on Wednesday.
                                
 * On Friday spot gold hit a near five-week low at $1,081.90
after news of Obama's proposal to limit financial risk-taking hit
the broader commodities markets.
                                
 * The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust <GLD>, said its holdings stood at 1,111.922 tonnes as
of Jan. 26, unchanged since Jan. 19. [GOL/SPDR]
                                
 * ETFS Platinum <PPLT.P> metals holdings rose 18 percent to
194,887 ounces as of Jan. 25, while ETFS Palladium <PALL.P>
holdings climbed 43 percent from the previous session to 399,925
ounces, according to ETF Securities. [GOL/]
                                
 MARKET NEWS
                                
 * The yen and the dollar were broadly firm on Wednesday as
investors unwound risky trades on concerns that a global recovery
could slow and as many turned cautious ahead of the Fed's policy
announcement. [USD/]
                                
 * Japan's Nikkei share average <.N225> was up 0.2 percent.
[.T]
                                
 * U.S. stocks slipped late on Tuesday due to trepidation over
churning political and regulatory developments, offsetting solid
earnings and improved consumer confidence data. [.N]
                                
 * The Fed's Open Market Committee (FOMC) ends a two-day
meeting on Wednesday, and policymakers are expected to keep
interest rates near zero and indicate whether they will stick
with plans to wind down an emergency asset purchase programme by
March.
                                
 * The meeting assumes significance as it takes place against
the backdrop of a furious Senate debate over Chairman Ben
Bernanke's reconfirmation. Bernanke's current term expires on
Sunday. [nFEDAHEAD].
                                
 DATA EVENTS
                                
 * The following data is expected on Wednesday: <ECON>
                                
 - Japan Dec trade data (2350 GMT)
                                
 - Australia Q4 consumer price index (0030 GMT)
                                
 - Bank of Japan releases monthly economic report (0500 GMT)
                                
 - World Economic Forum 2010 in Davos begins (N/A)
                                
 - French consumer confidence for Jan (0745 GMT)
                                
 - Italian trade for Dec (0900 GMT)
                                
 - President Obama delivers State of the Union address (N/A)
                                
 - U.S. new home sales for Dec (1500 GMT)
                                
 - U.S. Treasury Secretary Geithner testifies (1500 GMT)
                                
 - FOMC rate policy statement after two-day meeting (1915 GMT)
                                
 RELATED NEWS
 >China move, dollar hit commods; oil at month low     [COM/WRAP]
 >IMF sharply raises global growth forecast       [ID:nN26232284]
 >Peru says copper, gold production rose in 2009   [ID:nN2699286]
 >Barrick seeks limited injunction on Nevada mine [ID:nN26105041]
 >Ghana eyes sovereign wealth fund for oil money  [ID:nLDE60P0ZQ]
 >Investors could miss opportunities - C.Suisse   [ID:nLDE60P1G6]
 >Harmony sees lower Q2 gold output,profit to rise[ID:nLDE60P07D]
                                
 PRICES
                                
 Precious metals prices at 0010 GMT
 Metal         Last      Change  Pct chg    2 day chg  MA 30  RSI
 Spot gold    $1096.90   -$0.35  -0.03%    -5.27%   $1114.01   35
 Spot silver    $16.80    $0.08  +0.48%    -7.59%     $17.67   26
 Spot plat    $1526.50   -$6.00  -0.39%    -4.17%   $1521.20   37
 COMEX gold   $1096.50  -$32.90  -2.91%    -4.77%   $1118.16   37
 TOCOM gold      3,171     -267  -7.77%    -6.57%      3,294   31
 TOCOM plat      4,373     -374  -7.88%    -6.46%      4,303   22
 Currencies                                               
 Euro/dlr       $1.406  -$0.043  -2.98%    -3.11%
 Dlr/yen         89.63    -1.32  -1.45%    -2.66%
 TOCOM prices in yen per gram. Spot prices in $ per ounce.
 (Reporting by Risa Maeda; Editing by Michael Watson)