RIYADH: Gold prices edged lower on Wednesday as an uptick in the dollar and Treasury yields limited bullion’s appeal, with investors looking ahead to US inflation data for more direction on interest rates.
Spot gold was down 0.2 percent at $1,848.75 per ounce, as of 0302 GMT, while US gold futures were flat at $1,851.20.
Platinum dipped 0.1 percent to $1,009.85 an ounce while palladium rose 0.8 percent to $2,000.19.
Silver eased 0.3 percent to $22.14.
Chicago corn gained more ground on Wednesday, with strong demand and higher prices in the physical market lifting futures for a third straight session to a one-week high.
Wheat fell for a second session, but losses were limited by diminishing prospects of an increase in exports from war-torn Ukraine.
The most-active corn contract on the Chicago Board of Trade was up 1.2 percent at $7.65-3/4 a bushel, as of 0249 GMT, after climbing to its highest since May 31 at $7.68-1/4 a bushel.
Wheat slipped 0.5 percent to $10.66-3/4 a bushel, while soybeans added 0.9 percent to $17.44-1/4 a bushel.
Copper rises due to demand optimism
Copper prices edged higher on Wednesday, as declining inventories and demand optimism due to the easing of COVID-19 restrictions in top consumer China lent support, although a firmer US dollar kept gains in check.
Three-month copper on the London Metal Exchange was up 0.2 percent at $9,716 a ton, as of 0203 GMT, while the most-traded July copper contract in Shanghai rose 0.2 percent to $10,920.76 a ton.
(With input from Reuters)