Gold prices are edging up marginally Wednesday morning, even as the dollar hovered around one-month highs and the pound stayed weak amid Brexit uncertainty.
Recent comments from Fed Chair Jerome Powell that interest rates in the U.S. were just below neutral, and remarks from other Fed officials indicate that the central bank will pause monetary tightening sometime next year.
The dollar index is down slightly at 97.34, after moving between 97.30 and 97.47.
Gold futures for February are up $1.50, or 0.12%, at $1,248.70 an ounce.
On Tuesday, gold futures ended down $2.20, or 0.2%, at $1,247.20 an ounce.
Silver futures for March are gaining $0.099, or 0.68%, at $14.727 an ounce, while Copper futures for March are down $0.006, or 0.22%, at $2.761 per pound.
On the economic front, the Labor Department will release consumer prices data for November, at 8:30 AM ET.
Meanwhile, optimism about U.S. and China agreeing on a deal has increased after U.S. President Trump, in an interview with Reuters, sounded upbeat about the two countries working out a deal. Trump also tweeted on Tuesday that talks with China were "very productive."
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