Gold prices eased on Wednesday, set for a fifth consecutive session of losses as the US dollar strengthened and investors braced for minutes from the Federal Reserve's November policy meeting and key economic data.

Spot gold fell 0.3% to $1,784.30 per ounce by 1302 GMT, while US gold futures were little changed at $1,784.30.

The precious metal slid below the key $1,800 mark earlier this week as the re-nomination of Fed Chair Jerome Powell firmed bets of faster monetary policy tightening and boosted the dollar.

A stronger dollar makes gold more expensive for holders of other currencies.

"Dollar strength and market expectations of more aggressive action from the Fed is pushing gold down," StoneX analyst Rhona O'Connell said, adding investor sentiment also remains cautious ahead of minutes from the Fed's latest meeting.

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Some relief that there will be continuity now that Powell has been renominated has boosted financial markets in general and put pressure on gold, O'Connell said.

Focus will also be on a clutch of US data, including economic growth figures and the pivotal personal consumption expenditures price index, due later in the day.

"Solid GDP (gross domestic product) data can confirm the US economy is strong and can put more pressure on the Fed to accelerate tapering. But investors are more interested in inflation data as gold tries to approach $1,800," said Carlo Alberto De Casa, external analyst at Kinesis Money.

Powell has for more months insisted the current bout of inflation was likely to be transitory and said the central bank would be "patient" in deciding when to begin raising its benchmark rate from near-zero.

Higher interest rates increase the opportunity cost of holding non-yielding bullion.

Among other precious metals, spot platinum gained 0.8% to $976.94 per ounce, palladium rose 0.4% to $1,876.39.

Silver fell nearly 1% to $23.42.