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Gold costs were level on Wednesday in Asia as merchants anticipated prompts on the rate climb ways of the U.S. Central bank from its two-day strategy meeting.

Gold Futures for February conveyance last exchanged at $1,254.45 at 1:05 AM ET (06:05 GMT) on the Comex trade, up 0.05%.

The Fed is probably going to bring rates later up in the day, however some anticipate that the national bank should flag less rate climbs for 2019.

Lower loan costs diminish the open door cost of holding non-yielding bullion and burden the dollar, in which it is valued.

“Gold’s rally is on hold for the time being as everyone’s eyes are on the Fed for tomorrow,” said George Gero, valuable metals investigator at RBC Wealth Management in New York.

The U.S. Dollar Index that tracks the greenback against a bin of different monetary standards fell by 0.2% to 96.343 by 12:01 AM ET (05:01 GMT).

“The situating going into the FOMC meeting is exceptionally protective and that is the reason we are seeing the dollar debilitating,” said Michael McCarthy, boss markets strategist at CMC Markets.