(RTTNews) - The price of gold was little changed above $1,360 Wednesday morning amid a slightly higher U.S. dollar.
Gold for April delivery, the most actively traded contract, edged down $0.90 to $1,363.40 an ounce. Yesterday, gold rose over $15 amid inflation worries after Chinese officials raised interest rates for the second time in six weeks.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, inched down to 1,228.56 tons from 1,228.86 tons.
Meanwhile, the U.S. dollar was slightly higher against its major rivals on Wednesday. The buck was struggling to extend its 3-week high versus the euro, while trading marginally higher against sterling, the Swiss Franc and the yen.
Elsewhere, the price of silver ticked lower and platinum edged up, while copper was leveling off from its record high in morning deals.
Traders might also focus on a speech from Federal Reserve Chairman Ben Bernanke, who would testify before the House Budget Committee, to get clues on the further direction of the U.S. dollar.
