Gold prices inched lower on Monday, pressured by a firmer dollar, while investors awaited guidance from the U.S. Federal Reserve on when it is likely to start withdrawing its bond-buying programme. Spot gold dipped 0.1% to $1,752.66 per ounce, while U.S. gold futures edged up 0.1% to $1,753.80. The dollar index hit a near one-month high, denting gold’s appeal for holders of other currencies. The Fed is expected to open the door to reducing its monthly bond purchases when it meets on Sept. 21-22, while tying any actual change to U.S. job growth in September and beyond. Bullion is viewed as a hedge against the inflation and currency debasement likely from widespread stimulus. The Fed’s tapering could tackle both those conditions, diminishing gold’s appeal. U.S. consumer sentiment steadied in early September, but consumers continue to have a bleak view of the outlook amid a stiff bout of inflation, a survey showed on Friday. A pullback in domestic prices failed to revive physical gold demand in India last week, with jewellers banking on the upcoming wedding and festive season, while top consumer China saw an uptick in buying.