Investing.com — Gold prices edged lower on Wednesday after falling from a six-week high in the prior session, as a mixed reading on U.S. inflation brewed some uncertainty over the Federal Reserve’s stance on monetary policy, while concerns over a banking crisis in the country persisted.

The yellow metal rose sharply in recent sessions as the collapse of several U.S. banks triggered a rush into traditional safe havens. Pressure on the banking system also saw markets begin pricing in a less hawkish Fed, on bets that the central bank will try to prevent more economic turmoil.

Spot gold fell 0.1% to $1,902.18 an ounce, while gold futures sank 0.3% to $1,905.90 an ounce by 20:04 ET (00:04 GMT). Both instruments fell about 0.5% in the prior session.