Investors await the minutes of the Fed's June policy meet for indicators to its monetary policy, with the central bank widely expected to stick to its dovish stance on concerns over slow inflation growth in the US
It also remains to be seen if the Fed would bring forward its timetable for raising interest rates notwithstanding some concerns over the current economic growth.
Gold for August delivery, the most actively traded contract, gained
Gold for August delivery scaled an intraday high of
On Tuesday, gold futures ended lower for a third session with some weak economic data from the eurozone supporting the yellow metal. Nonetheless, the gains were offset by some recent upbeat US economic data indicating possibilities of a rate hike by the Federal Reserve sometime soon.
The dollar index, which tracks the US unit against six major currencies, traded at 80.12 on Wednesday, down from its previous close of 80.17 late Tuesday in North American trade. The dollar scaled a high of 80.23 intraday and a low of 80.02.
The euro traded higher against the dollar at
In economic news, Chinese consumer prices inflation slowed in June from a 4-month high, as food prices increased at a slower rate, a report from the
Consumer prices increased 2.3% year-on-year in June following the 2.5% increase in May. Economists had expected prices to rise 2.4%.
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