* Platinum hits an over nine-month low of $925.50/oz
* Spot gold may fall to $1,792/oz - technicals
Sept 15 (Reuters) - Gold held flat above the key
psychological level of $1,800 on Wednesday, after a
tamer-than-expected rise in U.S. inflation led to uncertainty on
when the U.S. central bank would begin tapering its asset
Spot gold was steady at $1,802.21 per ounce by 0610
GMT, after hitting a one-week peak of $1,808.50 on Tuesday.
U.S. gold futures eased 0.2% to $1,804.30.
"With the CPI data coming in a bit lower than expected, for
some that does push a possible (taper) announcement a little bit
further down the road and that should be fairly supportive for
gold prices," said ING analyst Warren Patterson.
Underlying U.S. consumer prices increased at their slowest
pace in six months in August, lending credence to the Fed's view
that high levels of inflation were transitory.
The data also raised expectations that the Fed may go slow
on unwinding economic support measures and keep interest rates
near zero for sometime. The U.S. central bank is due to hold its
two-day monetary policy meeting next week.
Gold tends to gain when interest rates are low, which
reduces the opportunity cost of holding non-yielding bullion.
The CPI sent the dollar index to a one-week low on
Tuesday, while the benchmark U.S. 10-year yield hit
its lowest reading since Aug. 24.
"I see gold holding above $1,800, as critical risks relating
to COVID-19 and underlying economic activity incentivise central
banks to keep the taps flowing, the key short-term driver of
gold prices," said Michael Langford, director at corporate
On the technicals front, spot gold may break a support at
$1,798 and fall to $1,792, failing to break a resistance at
$1,807, according to Reuters technical analyst Wang Tao.
Silver fell 0.5% to $23.71 per ounce.
Platinum hit an over nine-month low of $925.50 and
was last down 1.2% to $928.24.
Palladium dipped 1% to $1,959.61.
(Reporting by Eileen Soreng in Bengaluru; Editing by Sherry
Jacob-Phillips and Rashmi Aich)