Gold prices rose on Wednesday after the dollar and bond yields retreated as investors awaited U.S. inflation data that could offer more cues on the Federal Reserve's rate-hike policy path.
Spot gold rose 0.4% to $1,940.53 per ounce by 0231 GMT, its highest since June 20U.S. gold futures were up 0.5% at $1,946.00.
Making gold cheaper for holders of other currencies, the dollar index fell 0.2% to its lowest level since May 11. Benchmark 10-year U.S. Treasury yields also slipped to their lowest in nearly a week.
"There has been some renewed confidence in gold prices lately, given the broad expectations for the upcoming U.S. CPI to reflect further moderation in pricing pressures," said Yeap Jun Rong, market strategist at IG.
Source REUTERS
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