NEW YORK (Dow Jones)--December gold futures are expected to open floor trading in New York around $2 an ounce higher Wednesday, based on electronic activity ahead of the pit session at the Comex division of the New York Mercantile Exchange. December silver is expected to be up about 6 cents an ounce. In overnight activity, spot gold traded steady in Europe, supported by a weak U.S. dollar near its one-year low against the euro. The focus of the day will be the conclusion of the two-day U.S. Federal Reserve meeting with a statement due later Wednesday. The market expects the Fed to keep interest rates near zero, but comments about sentiment and plans for the country's stimulus will be watched by the market, analysts said. Any dollar reaction will affect gold prices, said a London-based trader. In recent trading, spot gold was up $1.40. The euro was near steady at $1.4783. In screen trading ahead of the pit open, the December S&P 500 futures were up 2.7 points. November crude was down 13 cents. U.S. economic reports on Wednesday include Sept. 18 U.S. Energy Department oil inventories at 10:30 a.m. EDT (1430 GMT), with crude oil stocks expected down 1.5 million barrels. The two-day FOMC meeting continues, with an interest rate announcement expected around 2:15 p.m. EDT (1815 GMT). In New York Tuesday, gold futures retested the recent highs as the dollar fell to its lowest level in a year against the euro. December gold rose $10.60 to $1,015.50. December silver gained 23.5 cents to $17.115. Comex gold warehouse stocks were up 9,935 ounces at 9,268,818 ounces Tuesday, while silver stocks were down 3,458,588 ounces at 116,090,389 ounces.

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