SINGAPORE, April 25 (Reuters) - Gold was steady around
$1,642 an ounce on Wednesday, underpinned by stronger equities,
but investors were also looking for hints of another round of
quantitative easing when the U.S. Federal Reserve ends of its
two-day meeting. 	
     The Fed will release a statement outlining its views on
policy and the economy at around 1630 GMT, when it is expected
to reiterate its intent to keep benchmark U.S. interest rates
near zero through 2014, which could boost gold's safe-haven
appeal. 	
                 	
    FUNDAMENTALS	
    * Spot gold hardly moved at $1,642.29 an ounce by
0018 GMT, having risen as high as $1,648.91 o n Tuesday as the
Dow and the S&P 500 jumped following strong earnings and upbeat
outlooks from big manufacturers.	
     * Argentina added to its gold reserves in September 2011 as
the price began to retreat from record highs, the International
Monetary Fund and government officials said on Tuesday,
reporting the country's first such purchase in six years.
  	
     * U.S. gold futures for June were at $1,643.30 an
ounce, down 0.03 percent.       	
     * Price volatility could spike ahead of Wednesday's May
COMEX options expiry, as both call and put options investors
look to profit from heavy bets at the $1,650 strike price. There
are currently around 10,000 lots in calls and around 30,000
contracts in puts at the popular price, traders said.  	
    * The biggest Dutch opposition parties refused on Tuesday to
back austerity cuts needed to meet EU budget targets after the
government fell, deepening the crisis in a nation probably
facing a long period of uncertainty until elections.
 	
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    MARKET NEWS	
    * Japan's Nikkei share average gained 1.2 percent on
Wednesday after a run of strong U.S.corporate results, including
earnings from Apple Inc, but market players said any
gains were likely to be capped ahead of key central bank
meetings this week.  	
    * The dollar slipped against the euro on Tuesday after data
suggesting U.S. home prices may be stabilizing spurred investors
to seek higher returns beyond U.S. borders. 	
     * Brent crude prices fell and U.S. crude edged up o n T
Tuesday, narrowing the spread between the two benchmarks, while
weak gasoline futures weighed on the complex as market
participants rotated positions ahead of weekly inventory
reports. 	

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