Gold Rebounds from Weekly Low

Gold prices rose on Wednesday, driven by renewed buying interest after the yellow metal fell to its lowest level in nearly a week during the previous session. Investors are closely monitoring U.S. job data for signals on potential future interest rate cuts.

Spot gold climbed 0.8 percent to $3961.85 per ounce by 0346 GMT. This comes after a decline of over 1.5 percent on Tuesday, marking its lowest point since October 30.

Meanwhile, U.S. gold futures for December delivery increased by 0.2 percent to $3970.10 per ounce. The dollar remained stable near its three-month high that it reached in the previous session.

Gold had reached a record high of $4381.21 on October 20, but has since dropped by about 10 percent from that peak.

As for other precious metals, silver rose 1.2 percent in spot trading to $47.68 per ounce. Platinum edged up 0.1 percent to $1537.10, while palladium increased by 0.2 percent to $1394.75.