The U.S. dollar lost ground on six-month highs reached last week, while gold prices rose to two-week highs on Tuesday as investors’ attention turned to the Federal Reserve’s two-day policy meeting, which gets underway later in the day. FUNDAMENTALS After reaching its highest price since September 5 earlier in the session, spot gold was stable at $1,932.79 per ounce.

American gold futures increased by 0.1% to $1,954.30 per ounce. Prior to important central bank policy decisions by the US, UK, and Japan this week, the U.S. dollar weakened 0.1% against its peers, making gold less expensive for buyers from abroad.

Raising reserve requirements could be a possible first step for policymakers at the European Central Bank as they prepare to discuss how to deal with the multi-trillion-euro surplus liquidity pool floating through banks, according to six sources who spoke to Reuters.

Hecla Mining reduced its projected output of silver for the year after announcing on Monday that production at its Idaho mine, which had earlier reported a fire, was likely to be suspended throughout this year. Palladium increased 1.1% to $1,249.07, platinum remained unchanged at $933.10, while spot silver nudged up 0.1% to $23.24 per ounce.