Gold prices inched lower on Wednesday as traders looked forward to U.S. Federal Reserve minutes and key inflation data for clues on the pace of future interest rate hikes.

FUNDAMENTALS

* Spot gold fell 0.1% to $1,663.60 per ounce, as of 0055 GMT, hovering close to a one-week low touched on Tuesday.

* U.S. gold futures were down 0.8% at $1,673.30.

* The dollar index and benchmark U.S. 10-year Treasury yields were steady in early Asian hours.

* The Federal Open Market Committee will issue minutes of its Sept. 20-21 meeting at 1800 GMT later in the day. The U.S. inflation reading will be released on Thursday and could cement expectations of another big rate hike at the November meeting.

* Federal Reserve Bank of Cleveland President Loretta Mester said on Tuesday that even with a large amount of rate rises this year, the central bank has yet to get surging inflation under control and will need to press forward with tightening monetary policy.

* While gold is considered as a hedge against inflation and economic uncertainties, rising interest rates reduce the appeal of the asset, which pays no interest.

* The International Monetary Fund warned on Tuesday that colliding pressures from inflation, war-driven energy and food crises and sharply higher interest rates were pushing the world to the brink of recession.

* Peru plans to formalise small-scale gold miners, mining minister Alessandra Herrera said on Tuesday, amid growing international pressure to shed light on the supply chain of the precious metal in South America's top producer.

* Spot silver fell 0.6% to $19.08 per ounce, platinum rose 0.3% to $888.37 and palladium dipped 0.5% to $2,129.99.

(Reporting by Eileen Soreng in Bengaluru; Editing by Subhranshu Sahu)