Gold prices slipped on Wednesday, pressured by a firmer dollar amid speculation over who will be the next U.S. Federal Reserve chief.

Fundamentals

* Spot gold was down 0.1 percent at $1,274.91 an ounce by 0053 GMT.

* U.S. gold futures for December delivery fell about 0.2 percent to $1,276.30 per ounce.

* The dollar index , which measures the greenback against a basket of major currencies, was up 0.2 percent at 93.992.

* The ECB is likely to decide the fate of its 2.3 trillion euro stimulus scheme on Thursday in one of the ECB's most keenly anticipated policy meetings for months.

* Private sector growth across the euro zone slowed more sharply than predicted this month, a survey showed on Tuesday, but activity remained strong even though firms increased prices at the steepest rate in over six years.

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