Gold edges lower

Gold has posted slight losses on Wednesday, as the spot price stands at $1224.55 per ounce in the European session. After strong gains last week, gold prices have weakened slightly. On the release front, we’ll get a look at US releases after a quiet start to the week. There are three key events on the calendar – Retail Sales, Core Retail Sales and PPI. US markets were off on Monday for a holiday, so it’s been a quiet week until now for XAU/USD. That could change later on Wednesday, as the US releases key consumer spending and inflation data. The markets are keeping low expectations, so traders should be prepared for some movement from the pair if there are some unexpected readings from Wednesday’s releases, according to investing.com