Technicals indicate spot gold may retest support at 2,025oz
Nine Fed officials due to speak this week
PCE inflation data due Thursday

Feb 28 Reuters Gold prices steadied on Wednesday, as lower U.S. Treasury yields partially offset a firmer dollar, while traders awaited key inflation data and remarks from Federal Reserve officials this week to gauge when the central bank is likely to cut rates.

Spot gold held its ground at 2,030.12 per ounce, as of 0643 GMT. U.S. gold futures fell 0.2 to 2,039.40 per ounce.

Benchmark 10year U.S. Treasury yields slipped to 4.2855 from 4.3150 on Tuesday, while the dollar index rose 0.2.

The anticipation is that the PCE report, along with the upcoming gross domestic product data, might act as catalysts for gold to break out of its current trading range within the 2,0202,050 area, said Luca Santos, analyst, ACY Securities.

Data on Tuesday showed U.S. durable goods orders posted the largest drop in nearly four years in January. U.S. consumer confidence also slid in February.

Markets now await the U.S. GDP data due at 1330 GMT, while the Federal Reserve39;s preferred gauge of inflation the core personal consumption expenditures PCE price index is due on Thursday.

Fed Governor Michelle Bowman on Tuesday reinforced the U.S. central bank39;s patient stance on easing, given upside risks to inflation.

At least nine more Fed officials are due to speak this week.

Traders are betting on about 79 basis points bps of rate cuts for 2024,…