WASHINGTON (dpa-AFX) - Gold prices were subdued on Wednesday, after having suffered their biggest daily loss since late August in the previous session.
Spot gold dipped 0.2 percent to $2,615.61 per ounce, extending losses for a sixth straight session as fading hopes for a 50-bps rate cut strengthened the dollar's appeal.
U.S. gold futures were little changed at $2,634.40, with rising geopolitical tensions helping limit the downside.
The dollar is on track for its best run in more than two years as traders scaled back their bets for more aggressive rate cuts by the Federal Reserve.
New York Fed President John Williams said on Tuesday that it will be appropriate again for the central bank to reduce rates 'over time.'
Separately, Fed Governor Adriana Kugler said there is a case for more easing if inflation keeps easing.
Boston Fed President Susan Collins noted that there are risks to the U.S. economy not only from sticky inflation, but also an economic downturn.
Fed Vice Chair Philip Jefferson said that risks to the central bank's employment and inflation goals are now closer to equal.
Traders look to the FOMC minutes later in the day for fresh insights on interest-rate policy.
Data on U.S. consumer price and producer price inflation are due on Thursday and Friday, respectively.
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