Spot gold gained 0.5% to $2,204.99 per ounce as of 10:20 a.m. EDT (1420 GMT), eyeing its best month since November 2022 gaining around 8% so far, and a second straight quarterly rise. U.S. gold futures edged 0.7% higher to $2,204.80.
The US currency, however, cut its losses after data showed that business activity in the world s largest economy picked up in January and a measure of inflation eased. A gauge of prices charged by companies for their products fell to the lowest level in more than 3-1/2 years, data showed.
Rupee Today: The Indian rupee closed marginally higher on Wednesday, supported by dollar sales from foreign banks, even as most of its Asian peers fell pressured by a recovery in the U.S. dollar index.
Gold, silver rally on short covering, weaker U S data kitco.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kitco.com Daily Mail and Mail on Sunday newspapers.