WASHINGTON (dpa-AFX) - Gold prices edged lower on Wednesday as the dollar recovered from recent losses, as investors awaited some crucial economic data, including a report on U.S. personal income & spending.
The dollar index, which climbed to 104.24 in the European session, pared some gains as the day progressed, and was at 103.96 a little while ago, up 0.13% from the previous close.
Gold futures for April ended lower by $1.40 at $2,042.70 an ounce.
Silver futures for May ended down $0.121 at $22.636 an ounce, while Copper futures for May ended lower by $0.0100 at $3.8405 per pound.
The inflation readings, which are said to be preferred by the Federal Reserve, are expected to show the annual rate of consumer price growth slowed to 2.4% in January from 2.6% in December.
The annual rate of growth by core consumer prices, which exclude food and energy prices, is also expected to dip to 2.8% in January from 2.9% in December.
In economic news today, revised data showed the U.S. economy grew by slightly less than previously estimated in the fourth quarter of 2023.
The Commerce Department said the jump by real gross domestic product in the fourth quarter was downwardly revised to 3.2% from the previously reported 3.3%. Economists had expected the surge in GDP to be unrevised.
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