Gold edged up after three days of declines, boosted by a slight fall in Treasury yields ahead of a likely pause in the Federal Reserve's aggressive monetary-tightening cycle.

Data Tuesday showed US inflation slowing to the lowest since March 2021, solidifying bets the Fed will keep interest rates steady later Wednesday. Swaps traders still see a high chance of at least one more hike later in 2023.

Gold remains within a range around $1,950 that's held for most of the month as investors wait decisive new drivers. Official data has continued to paint a mixed picture of the economy, making the outlook for monetary policy uncertain.

Also later Wednesday the producer price index for May will be released, giving more insight into inflationary pressures in the economy. Forecasters see the headline gauge falling 0.1% month-on-month.

Spot gold was 0.3% higher at $1,950.38 an ounce as of 10:05 a.m. in London, after closing 0.7% lower in the previous session. The Bloomberg Dollar Spot Index weakened slightly. Silver and palladium rose, while platinum edged lower. 

Source : Bloomberg