Gold dips

Bengaluru : Gold prices slipped on Wednesday, pressured by a firm dollar ahead of the release of the minutes from the Federal Reserve´s last policy meeting.

Spot gold was 0.1 percent lower at $1,289.71 per ounce as of 0645 GMT.

U.S. gold futures for June delivery were down 0.2 percent at $1,289.40 per ounce.

"We were quite steady this morning, but are running out of steam with dollar

being quite firm," a Hong Kong-based trader said.

"We want to see what FOMC minutes have in store for us. I think (investors) are looking at anything out of the ordinary that could raise the market," the trader said.

The dollar inched higher versus a basket of currencies , with investors awaiting minutes of the Federal Reserve´s last policy meeting due later in the day for hints on the pace of further U.S. monetary tightening.