ALBAWABA - Gold prices nudged down on Wednesday as the greenback regained some strength, while traders assessed the fallout from another interest rate hike.
Gold inched down in spot trading by 0.1 percent to $2,003.03 per ounce, while U.S. gold futures fell by 0.2 percent to $2,016.20.
The dollar index rose by 0.1 percent, making the yellow metal more expensive for buyers of other currencies.
Gold is considered a hedging tool during times of inflation, but high interest rates reduce the attractiveness of non-yielding alloys.
Investors are currently looking for signs of another interest rate hike in May and whether that will be the last before the Federal Reserve temporarily halts its mark up cycle.
As for other precious metals, silver fell by 0.2 percent to $25.16 an ounce, while platinum declined by 0.6 percent to $1,075.58, and palladium rose by 1 percent to $1,624.72.
