COMEX gold trades around a one-week low on Wednesday morning in Asia amid cautious trades ahead of US Fed decision this week. Although a rate cut is expected and discounted by markets, investor look for cues regarding future projections that could guide direction for dollar index as well as the yellow metal. Currently, gold is trading at $2661.10 an ounce, marginally lower on the day. Meanwhile, US retail sales jumped 0.7% in November, better than the market expectation for an increase of 0.5% and the 0.4% increase recorded in the previous month.

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