Gold prices flat as investors await Fed Chair Powell's speech

Gold preices steadied on Wednesday as a retreat in U.S. bond yields offset pressure from a stronger dollar, while investors sought more clarity on interest rates from the Federal Reserve after mixed commentary from the central bank officials.

FUNDAMENTALS
* Spot gold was flat at $1,968.64 per ounce by 0126 GMT after hitting its lowest since Oct. 24 on Tuesday. U.S. gold futures edged 0.1% higher to $1,975.20.

* The dollar rose for a third straight session, up 0.1% against its rivals, making gold more expensive for other currency holders.

* While benchmark 10-year U.S. Treasury yields were hovering near to a five-week low touched last week.

* Chicago Fed President Austan Goolsbee said the U.S. central bank has made significant inroads in its battle to bring inflation down to its 2% target, and attention will turn to how long to keep rates at their current level if that progress continues.

* Minneapolis Fed Bank President Neel Kashkari said the U.S. central bank may have to do more to bring inflation down to its 2% goal, given the recent spate of resilient economic data.

* Fed Governor Michelle Bowman, on the other hand, repeated her view that the central bank will likely need to raise short-term rates again.

* Investors now look forward to comments from Fed Chair Jerome Powell, who is set to speak on Wednesday and Thursday.

* Futures point to a roughly 15% chance of another hike by January, but are pricing in a 22% chance that rate cuts could come as early as March, according to the CME FedWatch tool.

* Lower interest rates boost the appeal of zero-yield bullion.

* Spot silver fell 0.3% to $22.56 per ounce, platinum eased 0.3% to $888.60. Palladium was steady at $1,055.49, hovering near its lowest level since 2018. DATA/EVENTS (GMT) 0700 Germany HICP Final YY Oct 0745 France Reserve Assets Total Oct