Gold prices steady in the early trades on Wednesday as investors maintained a cautious position and need more clarity on the Federal Reserve’s rate-hike trajectory from upcoming U.S. economic data.
Spot gold held its ground at $1,999.09 per ounce by 0042 GMT. U.S. gold futures rose 0.3% to $2,010.20.
The dollar index eased 0.1%, making gold more attractive for buyers holding other currencies.
Federal Open Market Committee, the U.S. central bank’s rate-setting will meet on May 2-3.
Higher interest rate dim the non-yielding asset, even when gold is considered as a hedge against inflation and economic uncertainty.
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