"Gold Shines as U.S. Data Signals Potential Rate Cut"

Gold prices saw an increase today, Wednesday, as the weaker dollar supported the precious metal following moderate U.S. inflation data. This has fueled expectations of a rate cut in September. Meanwhile, investors are closely watching the upcoming U.S.-Russia talks this week regarding the ongoing Ukraine crisis.

In spot trading, gold climbed 0.2 percent, reaching $3351.46 per ounce by 0447 GMT. U.S. gold futures, set for December delivery, remained stable at $3399.60.

Among other precious metals, silver rose by 0.8 percent in spot trading, touching $38.17 per ounce. Platinum slightly declined by 0.1 percent to $1335.82, while palladium held steady at $1129.37.