WASHINGTON (dpa-AFX) - Gold ticked higher on Wednesday while the dollar traded weak as investors await key U.S. inflation prints for clues on interest-rate cuts.
Spot gold edged up 0.3 percent to $2,523.69 per ounce, while U.S. gold futures were up 0.4 percent at $2,552.70.
The focus shifted to the U.S. consumer price inflation reading later in the day that could offer fresh insights into the central bank's interest rate plans.
Apart from the CPI data, the producer price index reading and initial jobless claims figures due on Thursday may also influence the size and extent of the U.S. Fed rate cut.
There is fair amount of uncertainty around the size of the cut at next week's Federal Reserve meeting.
Markets are pricing in one out of three chances of a 50-basis point cut and anticipate 114 bps of easing this year.
Elsewhere in Europe, the European Central Bank is expected to cut rates again on Thursday in a prelude to the Fed move.
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