Baku:Gold prices saw a modest increase on Wednesday after experiencing a nearly 3 percent drop in the previous session. The gains were restrained by stronger-than-expected US inflation data, which has solidified expectations of a Federal Reserve interest rate hike next month.
According to Emirates News Agency, spot gold rose by 0.3 percent to $4,043.62 per ounce by 0303 GMT, following a decline to $4,017.21 on Tuesday. US gold futures for December delivery also increased, gaining 0.5 percent to reach $4,051.10.
In related market movements, spot silver climbed by 1.7 percent to $52.38 per ounce, while palladium saw a gain of 1.3 percent, bringing it to $1,038.38 per ounce.
