December gold futures are expected to open floor trading in New York around $6 an ounce lower Wednesday, based on electronic activity ahead of the pit session at the Comex division of the New York Mercantile Exchange. December silver is expected to be down 17 cents. At 7:53 a.m. EDT, spot gold was trading down $2.25 to $1,051.85. In other markets that have the potential to impact metals in the short term, the euro is down slightly to $1.4920 from $1.4929 late Tuesday afternoon. In screen trading ahead of the pit open, the December S&P 500 futures are down 6.60 points to 1,082.80. December crude oil is down $1.26 to $77.86 a barrel in overnight activity. The main report that the market will be monitoring Wednesday morning will be the U.S. Energy Department's release of weekly inventory data at 10:30 a.m. EDT (1430 GMT). Crude-oil stocks are expected to rise 1.3 million barrels. The Federal Reserve's beige book report is scheduled for release at 2 p.m. EDT (1800 GMT). In New York Tuesday, gold futures ended up continuing their consolidation within the range of the last week, initially rising but giving up their gains as the dollar showed signs of strength. December gold rose 50 cents to $1,058.60 an ounce, while December silver fell 6.7 cents to $17.558. Comex gold warehouse stocks were up 100 ounces at 9,403,016 ounces Tuesday, while silver stocks were up 235,135 ounces at 116,103,518 ounces.

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