Gold falls ahead of U.S. inflation data release

Gold futures on the COMEX division of the New York Mercantile Exchange fell on Wednesday as investors waited for key U.S. inflation data.

The most active gold contract for December delivery fell 9.30 U.S. dollars, or 0.47 percent, to close at 1,950.60 dollars per ounce.

U.S. July consumer price index is due out on Thursday and the producer price index due out on Friday. The two figures could provide some insight into whether the Federal Reserve will raise interest rates again in September.

Gold was also under pressure as China reported a 0.3 percent drop in consumer prices in July, according to a report released by the National Bureau of Statistics on Wednesday.

Silver for September delivery fell 7.60 cents, or 0.33 percent, to close at 22.731 dollars per ounce. Platinum for October delivery fell 11.50 dollars, or 1.27 percent, to close at 892.70 dollars per ounce.