WASHINGTON (dpa-AFX) - Gold traded weak below under $2500 on Wednesday as traders awaited more U.S. economic data for clues to the Fed's rate trajectory.
Spot gold dipped 0.4 percent to $2,484.19 per ounce, while U.S. gold futures were down 0.3 percent at $2,515.15.
The dollar index is at a nearly two-week high as traders await more U.S. economic data this week for more clues on the economic and rate outlook.
U.S. data on trade, job openings, factory orders and the Fed's Beige Book survey results are due later in the day, followed by reports on weekly jobless claims, services sector activity and the ADP employment change on Thursday.
The most highly anticipated event of the week comes Friday, with the release of the August jobs report.
Economists currently expect employment to climb by 165,000 jobs in August after an increase of 114,000 jobs in July.
The unemployment rate is expected to edge down to 4.2 percent after rising to 4.3 percent in July, reaching its highest level since October 2021.
The Federal Reserve is almost certain to lower interest rates at its next meeting later this month, but there is some disagreement about the pace of rate cuts.
According to CME Group's FedWatch Tool, there is a 63.0 percent chance of a quarter point rate cut and a 37.0 percent chance of a half point rate cut.
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