WASHINGTON (dpa-AFX) - Gold edged higher on Wednesday but held near three-week lows as international efforts to kickstart Russia-Ukraine peace talks continue.
Spot gold rose by 0.3 percent to $3,326.13 per ounce in European trade while U.S. gold futures were up 0.3 percent at $3,369.70.
The White House insists Russian President Vladimir Putin and Volodymyr Zelensky will soon meet for peace talks. However, the Kremlin seems far less certain.
Any presidential summit should be preceded by a 'step by step' process of lower-level talks, Russian Foreign Minister Sergey Lavrov told state media today.
The U.S. dollar index was steady after climbing to a more than one-week high earlier in the session.
Federal Reserve Chair Jerome Powell is due to speak at the Kansas City Federal Reserve's Jackson Hole symposium on Friday and investors are watching for clues on a September rate cut.
Minutes of the Fed's July meeting, due later in the day, along with Thursday's weekly jobless claims may offer further insights into the central bank's policy stance.
According to CME Group's FedWatch Tool, there is an 86.9 percent chance the Fed will lower interest rates by a quarter point at its next monetary policy meeting in September.
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