2017.08.2302:05:00UTC+00Gold Prices Slip as Investors Focus on Jackson Hole Meeting

Gold prices inched down on a strong dollar on Wednesday, as investors focus on geopolitical headlines and the key annual central banking conference in Jackson Hole in the United States.

Spot gold fell 0.1 percent to $1,283.10 per ounce, after slipping 0.5 percent in the session earlier.

U.S. gold futures for December delivery dropped 0.2 percent at $1,288.70 an ounce.

Asian stocks moved higher to extend a global rally fueled by gains for technology shares on Wall Street and miners in Europe.

The dollar was firm versus the euro and the yen prior to the Jackson Hole summit later in the week.

The strong greenback makes dollar-denominated commodities more expensive for holders of other currencies, which could reduce demand.

The European Central Bank's ultra-easy monetary policy could curtail income inequality in the bloc, according to ECB Vice President Vitor Constancio, which rejects the belief that asset purchases disproportionately benefit the wealthy.

The Federal Reserve will meet on Sept. 19-20. Fed funds futures prices revealed that traders implied a 42 percent likelihood of an interest rate hike by the December meeting, according to CME Group's FedWatch tool.