WASHINGTON (dpa-AFX) - Gold prices are edging lower Wednesday morning with traders largely staying cautious as they look ahead to U.S. jobs data for clues about the Federal Reserve's monetary policy stance.
The dollar's modest uptick is also weighing on gold prices.
The dollar index has pared some gains after advancing to 92.16. It is currently hovering around 92.10, up 0.07% from the previous close.
Gold futures for August are down $2.50 or 0.14% at $1,761.10 an ounce, recovering from a low of $1,753.20.
Silver futures for September are rising $0.080 at $25.981 an ounce.
Federal Reserve Governor Christopher Waller said on Tuesday that the central bank may need to start dialing down its massive asset purchase program as soon as this year to allow the option of raising interest rates by late next year.
St. Louis Fed President James Bullard had remarked last week that stronger than expected inflation had led him to anticipate a first Fed rate hike in 2022.
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