PRECIOUS-Gold ticks up as investors brace for U.S. Fed meeting's outcome

LONDON (July 27) - Gold inched up on Wednesday, as the dollar weakened slightly, while investors waited for a key decision on interest rates from the U.S. Federal Reserve which could influence the outlook for bullion, amid growing worries over the state of the economy.

FUNDAMENTALS

* Spot gold firmed 0.1% to $1,718.97 per ounce, by 0041 GMT, while U.S. gold futures dipped 0.1% to $1,716.70.

* Wall Street equities fell and U.S. Treasuries rallied on Tuesday, a day before a likely Federal Reserve rate hike as investors grappled with growing economic concerns with signs of a looming gas supply crisis in Europe. [MKTS/GLOB]

REUTERS