SINGAPORE: Gold prices held steady on Monday amid a firm dollar, with markets anxiously awaiting the upcoming Federal Reserve meeting for insight on the timing of a potential US interest rate hike.

Several of the world's top central banks' meetings are due this week, including the Federal Open Market Committee meeting, which will be closely monitored for directions on a much anticipated interest rate hike.

"Basically investors are staying on the sidelines before all these key announcements and gold prices should naturally turn higher," said OCBC Bank analyst Barnabas Gan.

Gold still remains to be a safe haven asset owing to a sense of uncertainty and risk aversion in the markets right now, he said.

Spot gold was unchanged at $1,276.16 an ounce by 0650 GMT, while US gold futures were little changed at $1,277.10.

Gold rose more than 1 percent at one point on Friday after the FBI revealed it reopened an investigation of US Democratic presidential candidate Hillary Clinton's use of a private email system, sparking fresh tumult in markets, just days before the Nov. 8 presidential vote.

Federal investigators have secured a warrant to examine newly discovered emails related to Hillary Clinton's private server, a source familiar with the matter said on Sunday.

"Investment demand for gold should pick up towards the US presidential elections given the higher suspense ongoing in the issue," Gan added.

Speculators raised their net long positions in COMEX gold for the first time in four weeks in the week to Oct. 25, and cut it slightly in silver, US Commodity Futures Trading Commission data showed on Friday.-Reuters