WASHINGTON (dpa-AFX) - Gold prices traded lower on Wednesday while the dollar held steady as recent hawkish comments from Federal Reserve officials created some uncertainty about the rate outlook.
Spot gold slipped 0.2 percent to $2,415.19 per ounce, while U.S. gold futures were down 0.3 percent at $2,418.65.
The minutes of the Fed's April 30-May 1 meeting as well as a report on U.S. existing home sales may garner some attention later in the session.
The minutes may shed additional light on Fed officials' thinking with regard to the outlook for rates.
Fed governor Chris Waller said Tuesday that a continued softening in data over the next three to five months would allow the U.S. central bank to cut interest rates at the end of this year.
Elsewhere, data released earlier today showed that U.K. consumer price inflation slowed less than expected in April, raising uncertainty over a possible rate cut in June.
Data from the Office for National Statistics showed that the U.K. consumer price inflation weakened to the lowest since July 2021.
Consumer prices rose 2.3 percent on a yearly basis in April, slower than the 3.2 percent increase in March. However, inflation was stronger than economists' forecast of 2.1 percent.
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