Gold slipped on Wednesday as the dollar firmed, with investors looking to minutes from the US Federal Reserve's latest meeting for clues on the timing of interest rate hikes. Spot gold had dropped 0.2 percent to $1,233.41 per ounce by 0645 GMT, while US gold futures fell 0.4 percent to $1,234.60. Spot gold dropped as much as 1 percent to touch a one-week low of $1,225.73 in the previous session.
"Although U.S inflation has risen, the expectation of a rate hike in March is not very high," said Jiang Shu, chief analyst at Shandong Gold Group. "Since gold has only risen since the beginning of this year, the market has some hesitation in moving up further ... but still (prices) have some way to go up." Spot gold looks neutral in a range of $1,233-$1,240 per ounce, and an escape could suggest direction, according to Reuters technical analyst Wang Tao.
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