WASHINGTON (dpa-AFX) - Gold futures settled lower on Wednesday as the dollar cut early losses and moved up with traders awaiting the crucial U.S. inflation data, due on Thursday.
The inflation data, and the minutes of the Federal Reserve's latest policy meeting, are expected to provide some clues about the central bank's likely stance on the size of interest rate hike next month.
The Fed minutes are due out at 2 PM Et.
The dollar index, which was down at 113.05 in the Asian session, rallied to 113.59 around late morning, and is currently hovering around 113.40, up 0.17% from the previous close.
Gold futures for December ended lower by $8.50 or about 0.5% at $1,677.50 an ounce.
Silver futures for December ended down $0.549 at $18.939 an ounce, while Copper futures for December settled at $3.4250 per pound, down $0.0370 from the previous close.
Data from the Labor Department today showed the Producer Price Index for final demand in the U.S. increased by 0.4% month-over-month in September, rising for the first time in three months. The index had slipped by a revised 0.2% in August. Year-on-year, the PPI jumped 8.5% in September, the data showed.
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