Gold prices edge higher amid stronger dollar

Gold prices posted a slight gain on Wednesday morning, though pressure from a stronger US dollar and rising investor risk appetite limited the advance.

According to Report, citing trading data, December gold futures on the New York Comex exchange rose by $4.4, or 0.13%, reaching $3,363.1 per troy ounce.

Meanwhile, September silver futures slipped 0.57% to $37.115 per ounce.

The dollar’s strength, coupled with increased investor appetite for risk, continues to weigh on gold prices. Markets are also closely watching for Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole symposium.

Additionally, further guidance on the Fed’s monetary policy outlook may emerge from the minutes of the central bank’s July meeting, scheduled for release later on Wednesday.