SINGAPORE, Feb 28 (Reuters): Gold prices edged down for a third straight day on Wednesday, hurt by a rebounding US dollar, ahead of crucial economic data which help shape investors' view on the timing of the Federal Reserve's interest rate cuts.
Spot gold slipped 0.1 per cent at $2,026.71 per ounce, as of 1049 GMT. US gold futures fell 0.4 per cent to $2,035.90 per ounce.
The dollar index rose 0.3 per cent, its best session since Feb. 13, making greenback-priced bullion less appealing for other currency holders. Markets await the US GDP data due at 1330 GMT, while the Federal Reserve's preferred gauge of inflation - the core personal consumption expenditures (PCE) price index - is due on Thursday.
Spot platinum fell 0.5 per cent to $883.80 per ounce, while palladium dropped 2.2 per cent to $915.41, while silver fell 0.5 per cent to $22.32.
Gold hurt by dollar rebound
FE Team | Published: February 28, 2024 23:35:03
Gold hurt by dollar rebound
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