A worker handles an Argor-Heraeus SA one kilogram gold bar at Solar Capital Gold Zrt.
Spot gold was down 0.3% at $2,023.48 per ounce.
U.S. consumer inflation data is due on Thursday.
Economists polled by Reuters see year-on-year inflation at 3.2% in December, but think core inflation likely fell to 3.8%, its lowest since mid-2021.
"Still, bullion bulls would have no qualms restoring spot gold back above that psychologically important mark once markets get a firmer grasp on the Fed's policy pivot."
Persons:
Bob Haberkorn, Michelle Bowman, denting, Han Tan
Organizations:
Heraeus SA, Solar, Reuters, New York Federal Reserve, Treasury, Exinity
Locations:
Budapest, Hungary, U.S