* Fed widely expected to cut rates by 25 basis points
* Spot gold may test support at $1,483/oz -techs
* GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Adds quote, updates prices)
By Harshith Aranya
Aug 20 (Reuters) - Gold prices were steady on Tuesday, after skidding below a key level in the previous session following an uptick in risk appetite, with investors awaiting meetings by policymakers later this week for clues on the path forward for interest rate cuts.
Spot gold XAU= was little changed at $1,497.07 per ounce at 0640 GMT, slightly above the near one-week low of $1,492.10 hit in the previous session.
Gold fell 1.2% on Monday, below the key level of $1,500 and its biggest daily decline since July 19.
"There is not a lot of conviction in today's trading session for gold... Investors have gained some more confidence about the growth outlook and that weighs on gold," said Michael McCarthy, chief market strategist at CMC Markets.
U.S. gold futures GCcv1 dipped 0.3% to $1,507.80 an ounce.
Hopes for additional stimulus are rising after reports that Germany is prepared to increase fiscal spending and People's Bank of China took steps to lower corporate borrowing costs. markets continue to struggle under the weight of positive risk sentiment, but the downside momentum suggests we may be one positive trade headline away from testing $1,490, which could trigger a dash for the exits," Stephen Innes, managing partner, VM Markets, said in a note.
Meanwhile, the U.S. dollar held near a three-week high as an improvement in appetite for riskier assets lifted yields on U.S. government bonds. USD/
Investors are now focused on minutes from the U.S. Federal Reserve's July meeting due on Wednesday and the Fed's Jackson Hole seminar later in the week for clues on monetary policy thinking. Also on their watch list will be a Group of Seven summit this weekend.
Traders see about an 86% chance of a 25 basis-point interest rate cut by the Fed in September. FEDWATCH
However, Boston Federal Reserve Bank President Eric Rosengren on Monday signalled no willingness to support further interest rate cuts. gold may test a support at $1,483 per ounce, a break below which could cause a fall to $1,467, according to Reuters technical analyst Wang Tao. silver XAG= rose 0.4% to $16.93 per ounce.
Platinum XPT= was up 0.3% at $852.78 an ounce, while palladium XPD= also climbed up 0.3% to $1,478.27.