Abu dhabi: Gold rose to a more than two-month high on Wednesday after US inflation matched expectations. Spot gold increased by 0.9 percent to $4,406.64 per ounce by 17:30 GMT, surpassing the 100-day moving average, which is currently at $4,387.22. Bullion climbed more than 1 percent to its highest level since June 5th earlier in the session.
According to Emirates News Agency, US gold futures settled 0.6 percent higher at $4,467.5. Among other metals, spot silver rose 1.3 percent to $65.49 per ounce, reaching its highest level since June 22nd earlier in the session. Platinum saw an increase of 0.9 percent to $1,759.50, while palladium gained 0.5 percent to $1,367.23.