Gold flat ahead of Fed meeting for direction on rate hikes

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BENGALURU (Jan 24): Gold was little changed on Monday (Jan 24) as investors awaited the US Federal Reserve's (Fed) meeting for confirmation of its interest rate hike path, while concerns over inflation and Russia-Ukraine tensions kept bullion's safe-haven allure intact.Spot gold was flat at US$1,833.36 (about RM7,672) per ounce by 0034 GMT. US gold futures were up 0.2% at US$1,834.70.The Fed will tighten monetary policy at a much faster pace than thought a month ago to tame persistently high inflation, now viewed by