Gold prices steady---------

SINGAPORE, Dec 27 (Reuters): Gold prices kept to a tight range in Asian trade on Wednesday after rising optimism over early interest rate cuts by the Federal Reserve drove a strong melt-up in prices through December.

The yellow metal blew past key levels in recent sessions, and was now trading less than $100 below a record high hit at the beginning of the month. Gold's recent rally was triggered by the Fed signaling it was done raising interest rates, and that it will trim lending rates in 2024.

But markets bet that the Fed will cut interest rates by as soon as March 2024, especially as recent data showed sustained cooling in US inflation.

Spot gold steadied at $2,064.84 an ounce, while gold futures expiring in February rose 0.3 per cent to $2,075.85 an ounce by 01:14 ET (06:14 GMT).

Gains in December put gold prices on course to rise between 12 per cent to 14 per cent in 2023.