FX.co ★ Gold Dips As Dollar Firms On Upbeat US Economic Data

Gold prices declined on Wednesday and the dollar held firm after a slew of U.S. economic data pointed to a resilient economy.

Spot gold slipped 0.3 percent to $1,907.94 per ounce, while U.S. gold futures were down 0.3 percent at $1,907.88.

New orders for key manufactured capital goods unexpectedly rose in May, sales of new single-family homes surged in the month and a measure of U.S. consumer confidence surged to a near 1-1/2 year high in June, separate reports showed on Tuesday - helping ease concerns about an impending recession.

Looking ahead, U.S. preliminary goods trade balance data, wholesale inventories data for May and U.S. MBA purchase index for June will be released in the New York session.

Market participants also await a panel discussion of central bankers in Sintra, including European Central Bank President Christine Lagarde, Federal Reserve Chair Jerome Powell, Bank of Japan Governor Kazuo Ueda and Bank of England's Andrew Bailey later in the day for further policy direction.