Gold prices were flat on Wednesday, as traders awaited key U.S. inflation data due this week to gauge the Federal Reserve's rate hike stance. FUNDAMENTALS

* Spot gold was little changed at $1,876.49 per ounce, as of 0023 GMT. U.S. gold futures rose 0.3% to $1,881.30.

* All eyes are on the U.S. consumer price index (CPI) data due on Thursday.

* Fed Chair Jerome Powell did not comment on the Fed's monetary policy at the central bank conference in Sweden held on Tuesday.

* Fed Governor Michelle Bowman said the U.S. central bank will have to raise interest rates further to combat high inflation and that will likely lead to softer job market conditions.

* Gold is highly sensitive to rising interest rates, as that increase the opportunity cost of holding the non-yielding bullion.

* Meanwhile, European Central Bank's governing council member Mario Centeno said on Tuesday the current process of interest rate increases is approaching its end.

* SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.13% to 914.17 tonnes on Tuesday.

* Spot silver was steady at $23.62, platinum fell 0.5% to $1,076.00 and palladium slipped 0.4% to$1,773.87.

DATA/EVENTS (GMT)

No major data/events expected on Wednesday, Jan 11 (Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Rashmi Aich)