PRECIOUS-Gold holds steady ahead of Fed policy statement

July 30 (Reuters) - Gold prices steadied on Wednesday as investors held back on making big bets ahead of the Federal Reserve's policy statement later in the day for cues into future rate cuts, while focus remained on U.S. trade talks ahead of the August 1 deadline.

FUNDAMENTALS

* Spot gold XAU= was steady at $3,329.19 per ounce as of 0020 GMT. U.S. gold futures GCcv1 rose 0.1% to $3,327.70.

* U.S. and Chinese officials agreed to seek an extension of their 90-day tariff truce on Tuesday, following two days of talks in Stockholm.

* However, U.S. officials said it was up to President Donald Trump to decide whether to extend a trade truce that expires on August 12 or potentially let tariffs shoot back up to triple-digit figures.

* Meanwhile, the U.S. dollar index .DXY held steady after hitting a more than one-month high on Tuesday, making greenback-priced bullion more expensive. USD/

* Investors turned their focus to the Fed's policy to gauge its future rate cut path, following the central bank's two-day meeting, during which it is widely expected to keep rates steady, despite Trump's constant call to lower them.

* The U.S. trade deficit in goods narrowed to its lowest in nearly two years in June as imports fell sharply, cementing economists' expectations that trade likely accounted for much of an anticipated rebound in economic growth in the second quarter.

* The International Monetary Fund slightly raised its global growth forecasts for 2025 and 2026 on Tuesday, citing stronger-than-expected buys ahead of a jump in U.S. tariffs on August 1 and a drop in the effective tariff rate to 17.3% from 24.4%.

* Meanwhile, on Tuesday, Trump threatened tariffs and other measures on Russia "10 days from today" if Moscow showed no progress toward ending its more than three-year-long war in Ukraine.

* Spot silver XAG= held steady at $38.20 per ounce, platinum XPT= fell 0.4% to $1,389.20 and palladium XPD= remain unchanged at $1,258.75.

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