Gold Prices Rebound Amid Dollar Strength Ahead of US Inflation Data

Gold prices rose during Wednesday's trading session but remained on track for a monthly decline due to a stronger dollar and higher Treasury yields. Investors are awaiting the release of the US inflation data, specifically the core Personal Consumption Expenditures (PCE) Price Index, which is expected to remain unchanged year-on-year at 3.3% in August.

The dollar index was steady at 101.45, putting it on track to post monthly gains of more than 1.5%. Meanwhile, gold prices were headed for a monthly decline of around 6% in September. The Federal Reserve's preferred inflation gauge is expected to be released later today, which may influence market movements.

The changes in precious metal prices are as follows: Gold (December delivery) rose by $26.0, or 0.60%, to $4,205.70; Gold (spot) was unchanged at $4,180.18; Silver (December delivery) increased by $0.167, or 0.27%, to $61.32; Silver (spot) fell by $0.531, or 0.83%, to $60.93; Platinum (spot) decreased by $1.80, or 0.10%, to $1,701.31; and Palladium (spot) dropped by $3.44, or 0.28%, to $1,219.63.