Gold futures prices rose following a decline in U.S. consumer confidence during June, amid growing uncertainty over the tariffs imposed by President Donald Trump.
On Wednesday, gold futures for August delivery increased by 0.3%, or $9.50, to $3,343.40 per ounce.
Meanwhile, spot gold prices rose by 0.25%, or $8.54, reaching $3,332.21 per ounce as of 8:39 AM Mecca time.
The U.S. dollar index—which measures the performance of the greenback against a basket of six major currencies—rose by 0.1% to 97.97 points.
While silver futures for September delivery increased by 0.55% to $36.27 per ounce, spot platinum prices rose by about 0.35% to $1,324.85, whereas spot palladium prices declined by around 0.1% to $1,067.73.
This comes after the Conference Board survey showed a drop in U.S. consumer confidence this month, amid ongoing concerns about the impact of tariffs on the economy and prices.
Federal Reserve Chair Jerome Powell is scheduled to testify before a Senate committee later today regarding the Fed's semiannual monetary policy report
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