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Gold edged lower on Wednesday as hawkish comments from U.S. Federal Reserve officials raised bets on a rate hike this year, with traders waiting for minutes from the last Fed policy meeting for more clues.

Spot gold was down 0.3 percent at $1,341.84 an ounce at 0654 GMT. The precious metal rose 0.5 percent on Tuesday.

New York Fed President William Dudley warned investors they are underestimating the likelihood of increases, and Atlanta Fed chief Dennis Lockhart said he’s confident growth is accelerating, setting the stage for one or two rises this year. The comments boosted the probability of a hike in December to 51 percent.

Dudley warned investors they are underestimating the likelihood of increases, and Atlanta Fed chief Dennis Lockhart said he’s confident growth is accelerating, setting the stage for one or two rises this year. The comments boosted the probability of a hike in December to 51 percent.

Holdings in bullion-backed exchange traded funds added 5.25 metric tons to 2,032.9 tons on Tuesday, data compiled by Bloomberg show.

Reference: Bloomberg, Reuters