Gold prices slipped lower Tuesday as the Federal Reserve kicked off its final meeting of the year that is expected to conclude with a rate cut on Wednesday.

At 15:09 ET, spot gold fell 0.3% to $2,646.06 an ounce, while gold futures expiring in February slipped 0.3% to $2,662.44 an ounce.

The yellow metal has fallen into something of a holding pattern between $2,600 and $2,700 as traders bought dollars before rate decisions from the Fed, the Bank of Japan and the Bank of England this week.

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