BENGALURU: Gold held steady on Wednesday as investors awaited testimony from US Federal Reserve Chair Janet Yellen and central bank officials expressed caution about further interest rate hikes. While dollar-denominated commodities typically rise when the greenback declines, reflecting the intrinsic value of the commodity.Spot gold rose 0.1 per cent to $1,218.46 per ounce at 0719 GMT.US gold futures for August delivery rose 0.3 per cent to $1,217.70 per ounce. said Standard Chartered in a note. "We maintain the view that the outlook for prices appears fragile in the near term. "Among other precious metals, silver rose 0.4 per cent to $15.84 per ounce.Palladium gained 0.4 per cent to $853.25 per ounce and platinum edged up 0.1 per cent to $902.00 per ounce.

Source: Economic Times July 12, 2017 02:33 UTC