WASHINGTON (dpa-AFX) - Gold prices were flat to slightly higher on Thursday as traders react to Fed Vice Chair Lael Brainard's comments on bringing inflation down without going too far.
Spot gold edged up 0.1 percent to $1,719.79 per ounce, while U.S. gold futures were up 0.2 percent at $1,730.55.
In remarks prepared for a speech in New York, Brainard vowed Wednesday to press the fight against inflation while being careful to avoid overtightening.
Investors await the ECB rate decision and a speech by U.S. Federal Reserve Chair Jerome Powell later in the day for further direction.
The European Central Bank is widely expected to go for a large, 50-basis-point rate hike or a record 75-basis-point one, given the record high inflation and the tightening stance of its global peers.
The central bank is set to release the outcome of the governing council meeting in Frankfurt at 8.15 am ET.
ECB Chief Christine Lagarde is set to hold customary press conference at 8.45 am ET.
Powell will participate in a discussion at a Cato Institute conference, where the rhetoric on rate hikes is expected to remain hawkish overall.
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