Gold Rally Cools as Traders Eye Mideast Developments, US Data

GOLD - NEW YORK. Gold inched lower on Wednesday, hitting a pause after rallying more than 1% in the previous session, as traders hunkered down for more U.S. economic cues and developments on the Middle East conflict.

Spot gold was down 0.3% at $2,654.84 per ounce by 10:37 a.m. ET (1437 GMT). Prices had jumped over 1% on Tuesday after Iran launched missile strikes on Israel.