Dec 7 (Reuters) - Gold prices struggled for momentum in early Asian trade on Wednesday as investors looked to next week's U.S. Federal Reserve policy meeting for clues on the pace of rate hikes.

FUNDAMENTALS

* Spot gold XAU= was little changed at $1,770.46 per ounce, as of 0008 GMT.

* U.S. gold futures GCv1 were flat at $1,783.10.

* Fed fund futures are now pricing in a 91% chance of 50-basis point (bps) rate increase in the December meeting. FEDWATCH

* The Fed meeting is scheduled on Dec. 13-14.

* High interest rates have weighed on gold's traditional status as a hedge against inflation and other uncertainties this year, as they translate into higher opportunity cost of holding the non-yielding metal.

* SPDR Gold Trust GLD , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.3% to 906.06 tonnes on Tuesday.

* The U.S. trade deficit widened sharply in October as slowing global demand and a strong dollar pushed goods exports to a seven-month low, suggesting that trade could be a drag on economic growth this quarter if the trend persists.

* Meanwhile, the European Central Bank will have to raise interest rates several more times to tame price pressures, even if headline inflation is now close to its peak, ECB chief economist Philip Lane told the Milano Finanza on Tuesday.

* Spot silver XAG= inched 0.1% lower to $22.13, platinum XPT= was flat at $988.42 and palladium XPD= was unchanged at $1,848.48.

DATA/EVENTS (GMT)

0300 China

Exports, Imports YY

Nov

0300 China

Trade Balance

Nov

0700 Germany

Industrial Output MM

Oct

0700 Germany

Industrial Production YY

Oct

0700 UK

Halifax House Prices MM, YY Nov

0745 France

Reserve Assets Total

Nov

1000 EU

GDP Revised QQ, YY

Q3
Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Subhranshu Sahu