Gold traded in a narrow range on Wednesday, as the recover overnight, was mainly hindered by the greenback robust ahead of major hints on inflation and interest rates.

The gold plunged from record peaks during the previous two weeks as dovish hints from other main central banks kept traders more geared towards the greenback.

The dollar index edged up a bit in the Asian trade and was anticipating a one-month peak.

Spot gold muted at $2,179.98 per ounce, while gold futures edged up to $2,178.60 per ounce.

Although, gold hit some gains during overnight trade, any further major uptick Was weakened by the continual robustness of the dollar.

The dollar continued to be the preferred currency among traders due to the dovish signals sent by the Bank of England and the Swiss National Bank, which established the dollar as the only high-yielding, low-risk currency.

The Fed's favorite inflation indicator, the PCE price index, is expected to release later this week. Top Fed officials' remarks further encouraged flows into the dollar, particularly as traders awaited further indications of potential interest rate decreases in the United States