FUNDAMENTALS
* Spot gold was unchanged at $2,035.39 per ounce, as
of 0031 GMT. U.S. gold futures were steady at $2,043.50.
* The U.S. consumer price index (CPI) data is due at 1230
GMT.
* Markets are currently pricing in a 83% chance of the U.S.
central bank holding rates at their current level in June.
* On Tuesday, Fed Governor Philip Jefferson said the U.S.
economy is slowing in an "orderly fashion", while New York Fed
President John Williams said it is too soon to say whether the
U.S. central bank is done raising interest rates.
* Although gold is considered a hedge against inflation,
rising interest rates dull non-yielding bullion's appeal.
* China's imports contracted sharply in April, while exports
rose at a slower pace, reinforcing signs of feeble domestic
demand.
* President Joe Biden and top lawmakers agreed on Tuesday to
further talks aimed at breaking a deadlock over raising the
$31.4 trillion U.S. debt limit, with just three weeks before the
country may be forced into an unprecedented default.
* Spot silver rose 0.2% at $25.66 per ounce, platinum edged 0.2% higher to $1,106.35, and palladium gained 0.4% at $1,576.33.
DATA/EVENTS (GMT, April)
0600 Germany HICP Final YY
1230 US Core CPI MM, SA; YY, NSA
1230 US CPI MM, SA; YY, NSA
1230 US CPI Wage Earner
(Reporting by Ashitha Shivaprasad in Bengaluru; Editing by
Rashmi Aich)
