Gold Futures Settle Higher Ahead Of Key Economic Data

Gold settled higher on Wednesday despite a fairly steady dollar, as investors picked up the safe-haven yellow metal amid concerns about geopolitical tensions.

The dollar index, which climbed to 104.46, was last seen at 104.40, up by about 0.1%.

Gold futures for June ended higher by $13.50 at $2,212.70 an ounce.

Silver futures for May ended up by $0.129 at $24.752 an ounce, while Copper futures for May settled at $4.000 per pound, drifting down by $0.0085.

Investors now look ahead to key U.S. and European inflation readings and comments from central bank officials for additional clues on the interest rate outlook.

The release of the U.S. Federal Reserve's favored inflation indicator along with public comments from Fed Chair Jerome Powell on Friday are expected to provide additional clues on the Fed's rate trajectory.