CHICAGO, Feb. 14 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Wednesday on follow-through selling pressure after hotter than expected inflation data on Tuesday.

The most active gold contract for April delivery fell 2.90 U.S. dollars, or 0.14 percent, to close at 2,004.30 dollars per ounce.

In a prepared speech at the Council on Foreign Relations in New York on Wednesday, Chicago Fed President Austan Goolsbee said he does not support waiting until inflation is at 2 percent for a rate cut, adding that the central bank's current policy stance is "quite restrictive."

"Rate cuts should be tied to confidence in being on a path toward the target," Goolsbee said, noting that slightly higher inflation data in the short term is still consistent with the Fed's road to the 2 percent target rate.

Goolsbee's remarks came a day after hotter than expected U.S. consumer price index dampened market expectations for rate cut early this year.

Gold is in a bearish trend in near term, market analysts hold. The first resistance is seen at 2,010.00 dollars and then at 2,023.30 dollars. The first support is seen at 1,996.40 dollars and then at 1,985.00 dollars.

U.S. January producer price index, another inflation gauge preferred by the Federal Reserve, will be released on Friday.

Silver for March delivery rose 23.30 cents, or 1.05 percent, to close at 22.387 dollars per ounce. Platinum for April delivery rose 18.40 dollars, or 2.09 percent, to close at 897.30 dollars per ounce. Enditem

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