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Gold prices rise as dollar, bonds yield weaken

MCX Gold prices bounced back on Wednesday, while the silver rates climbed 0.39%. On the MCX, gold October futures were trading at Rs 59,340 per 10 grams, up by Rs 92 or 0.16%. Silver September futures were trading up by Rs 275 at Rs 70, 491 per kg on MCX.

Gold prices bounced back on Wednesday from one-month lows hit in the previous session, as the dollar and bond yields weakened a day ahead of the release of U.S. consumer price data that could build the case for or against further interest rates hikes.

Spot gold rose 0.3% to $1,929.99 per ounce, having dropped to its lowest since July 10 at $1,922 on Tuesday. US gold futures were up 0.2% at $1,963.80.

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