Gold traded marginally lower at $1,545 per ounce ahead of the conclusion of the two-day Federal Open Market Committee meeting

Gold traded marginally lower at $1,545 per ounce ahead of the conclusion of the two-day Federal Open Market Committee meeting. At 2pm eastern time, the Fed will likely announce that it has kept the fed funds rate near zero. Investors will scrutinize the accompanying policy statement and Chairman Bernanke’s press conference for clues as to how likely an additional dose of monetary stimulus is after the recent slew of weaker than expected economic data.

The euro fell against the U.S. dollar despite Greek Prime Minister George Papandreou winning a confidence vote in Parliament. Concerns over the ability of Papandreou to secure parliamentary approval of budget cuts remain – necessary in order to secure the next round of funding from Europe’s supranational institutions.