• XAU/USD up 0.75% in Asia ahead of crucial Fed rate decision later Wednesday

• Probability of a Sep hike at 92%; FOMC statement and Warsh presser key

• Gold downside limited as hawkish Fed outlook largely priced in

• Officials may be reluctant to commit to additional tightening beyond Sep

• May disappoint hawkish investors who have priced in 3 rate hikes by March

• XAU has built strong base at $4250-$4260; rally to $4,400, $4,430 likely

• Asia range $4274.74-$ 4,340.73
XAU:

(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)