Gold Eases As Dollar Firms Before Inflation Readings

Gold edged lower on Wednesday while the dollar firmed up as investors awaited key inflation readings in the U.S. and Europe for directional cues.

Spot gold slipped 0.3 percent to $2,025.45 per ounce, while U.S. gold futures were down half a percent at $2,034.45.

Fourth quarter U.S. GDP data along with remarks by several Federal Reserve officials may garner investor attention as the session progresses.

ECB Member of the supervisory board Elizabeth McCaul, Bank of England policymaker Catherine Mann, Federal Reserve Bank of Atlanta President Raphael Bostic, Federal Reserve Bank of Boston President Susan Collins and Federal Reserve Bank of New York President John Williams are due to speak later in the day.

The U.S. Commerce Department's report on personal income and spending, which is scheduled to be released on Thursday, includes a reading on consumer price inflation said to be preferred by the Federal Reserve.

Some relief on Eurozone inflation is expected on Friday, backing the case for an ECB rate cut. Inflation reports from Germany, France and Spain are due on Thursday.