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Gold prices edged higher on Wednesday, though the strength in the U.S. dollar and bets that the Federal Reserve could raise interest rates sooner than anticipated kept the safe-haven metal below the key $1,800 mark.
Gold prices eased on Wednesday, set for a fifth consecutive session of losses as the U.S. dollar strengthened and investors braced for minutes from the Federal Reserve's November policy meeting and key economic data.
Gold prices were near their lowest level in two weeks on Monday, constrained by a stronger dollar and expectations the U.S. Federal Reserve would accelerate the pace of stimulus tapering to curb broadening inflationary risks.
Gold eased on Monday, hovering near a two-week low, weighed down by a firmer dollar and expectations that rising inflation might push the Federal Reserve to accelerate its monetary policy tightening.
Gold prices eased on Wednesday, ahead of a crucial Federal Reserve decision, as investors await cues on the U.S. central bank's plan to taper its pandemic-induced stimulus amid signs of rising inflation.