Gold fluctuated after comments by the Bank of England on removing emergency market support by the end of the week rattled traders, leaving investor sentiment fragile.

BOE Governor Andrew Bailey’s warning to fund managers to wind up positions that they can’t maintain before market support is withdrawn at the end of the week drove up Treasury yields and the dollar on Tuesday, pressuring gold. The non-yielding metal gave up gains to end the day slightly lower.

Bullion edged up Wednesday from a one-week low, while traders await critical US inflation data later in the week. A higher-than-expected consumer price index print could weigh on the metal if investors anticipate more hawkish action by the Federal Reserve.

The relentless rate hikes by the US central bank have sent gold down almost 19% from this year’s high set in March. The traditional haven has been out of favor with investors, whose sales from exchange-traded funds have driven much of the decline.

An “overtly inflationary bias” in the upcoming data could cement expectations of another big rate hike at the November meeting, Avtar Sandu, a senior manager of commodities at Phillip Nova, said in a note.

On Wednesday, the produce price index for final demand rose twice as much as expected in September, underlining the inflationary pressures in the US.

Spot gold was up 0.3% at $1,671.70 an ounce as of 1:57 p.m. in London, after earlier falling as much as 0.3%. The Bloomberg Dollar Spot Index edged lower. Silver and palladium crept higher, and platinum fell slightly.