WASHINGTON (dpa-AFX) - Gold prices were mixed on Wednesday while Treasuries and the dollar held steady as traders await the release of U.S. inflation data as well as the Federal Reserve's rate decision later in the day for additional clues on the Fed's rate trajectory.
Spot gold dipped 0.2 percent to $2,312.66 per ounce while U.S. gold futures were up 0.1 percent at $2,328.85.
Economists expect consumer prices to inch up by 0.1 percent in May after climbing by 0.3 percent in April, while core consumer prices, which exclude food and energy prices, are expected to increase by 0.3 percent for the second straight month.
The annual rate of growth by consumer prices is expected to come in unchanged at 3.4 percent, but the annual rate of core consumer price growth is expected to slow to 3.5 percent in May from 3.6 percent in April.
The U.S. central bank is widely expected to leave interest rates unchanged, but traders will pay close attention to the accompanying statement as well as officials' latest projections for the economy and interest rates.
The focus is on whether the Fed keeps three rate cuts in its 'dot plot' projections for this year.
The Fed announces its monetary policy decision at 2:00 pm ET. Half-an-hour later, Chair Jerome Powell will conduct a press conference.
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