Gold prices were largely unchanged on Tuesday after the Bank of Japan kept its monetary policy steady, with investors shifting their attention to other central bank meetings and economic events due this week. Gold markets remained cautious ahead of a two-day US Federal Reserve policy meeting beginning Tuesday, the likely announcement of the next Fed chair on Thursday and US payrolls data on Friday.
Ongoing political unrest in Catalonia was also in focus, along with the Bank of England's meeting this week to discuss interest rate policy. Spot gold was little changed at $1,275.49 per ounce at 0724 GMT. It has shed about 0.3 percent so far in October, in what could be its second straight monthly decline.
US gold futures for December delivery dipped 0.1 percent to $1,277.10. "The market is catching its breath for what will be a very data-heavy second half of the week," said Jeffrey Halley, a senior market analyst with OANDA. Spot gold may test resistance at $1,281 per ounce, a break above which could lead to a gain to the next resistance level at $1,286, according to Reuters technical analyst Wang Tao.