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Gold Stuck Below $1300

Gold futures inched lower Wednesday morning ahead of the Federal Reserve's latest interest rate decision and wholesale inflation data.

The Fed is expected to raise interest rates and signal one more rate hike in 2018.

Gold was down $2 at $1297 an ounce, having drifted lower over the past few sessions.

In ecnomic news from overseas, Eurozone industrial production decreased in April after recovering in the previous month, data from Eurostat showed Wednesday.

Industrial output fell 0.9 percent month-over-month in April, reversing a 0.6 percent increase in March, which revised up from 0.5 percent.

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