Gold may fall to 1,950 level, good zone to be long analyst
Spot gold hits lowest since Dec. 13 on Wednesday
U.S. dollar index holds below threemonth peak
First Fed cut likely in June money market pricing

Feb 15 Reuters Gold struggled near a twomonth low on Thursday, as investors assessed comments from two U.S. Federal Reserve officials on unexpectedly high January inflation that has tempered hopes for swift and deeper interest rate cuts this year.

Spot gold was flat at 1,992.33 per ounce Oz, as of 0706 GMT, after hitting its lowest since Dec. 13 on Wednesday. U.S. gold futures also remained flat at 2,004.20Oz.

After a sharp fall in gold prices on Wednesday, we see some consolidation. But today39;s economic data points will give more clarity, said Ajay Kedia, director at Kedia Commodities in Mumbai.

The dollar39;s move would be important to watch as it may retest its highs, weakening gold prices.

The U.S. dollar index .DXY, opens new tab held its position below a threemonth peak. A stronger dollar makes gold more expensive for buyers using other currencies.

Fed Vice Chair for Supervision Michael Barr backed the careful approach to rate cuts advocated by Chair Jerome Powell, while Chicago Fed President Austan Goolsbee cautioned against delaying action for too long.

The comments followed an unexpected increase in U.S. consumer prices, which prompted bullion to drop 1.4 on Tuesday, marking its biggest daily decline since Dec. 4.

Traders are now pricing in 97…