Gold fell on Tuesday for a second session as muted physical demand weighed on prices, along with fears the US Federal Reserve may pare back its $85 billion monthly bond purchases. Spot gold fell 0.5 percent to $1,378.1 an ounce by 0635 GMT after losing about 0.4 percent on Monday as US stocks rallied ahead of the Fed meeting.
Shanghai gold futures fell 0.8 percent. Bullion has fallen more than 17 percent so far this year as investors have shunned its safe-haven appeal. Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, stood at 1,003.17 tonnes on Monday - their lowest in more than four years.
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