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Gold prices on back foot as dollar firms; traders await US Fed data

Spot gold was down 0.2% at $1,774.96 per ounce, as of 0251 GMT. US gold futures fell 0.4% to $1,776.10. (Reuters) – Gold was subdued on Thursday, as a stronger dollar made bullion more expensive for holders of other currencies, while investors digested mixed signals from Federal Reserve officials on rate hike and awaited more U.S. data to gauge inflationary pressures. Spot gold was down 0.2% at $1,774.96 per ounce, as of 0251 GMT. U.S. gold futures fell 0.4% to $1,776.10. The dollar index held firm below an 11-week high against its rivals. [USD/] “With a lack of clear direction and contradictory themes coming from Fed officials and the news headlines, expect  gold rate  to continue its choppy range-bound trading,” Jeffrey Halley, a senior market analyst at OANDA said. “The market remains nervous about earlier lift-off entrenched inflation type headlines and so gold will remain a sell on rallies into the end of the week.” Two Fed officials on Wednesday said that a period of hig...