India, July 16 -- Gold prices inched higher on Wednesday as the dollar pulled back slightly, and U.S. Treasury yields retreated after rising in the previous session.
Spot gold rose half a percent to $3,340.15 per ounce in European trade while U.S. gold futures for August delivery were up 0.3 percent at $3,347.60.
The dollar eased slightly after rising on Tuesday as June U.S. CPI data showed early signs of tariff-linked inflation.
Data showed U.S. CPI increased 0.3 percent sequentially in June, putting the annual inflation rate at 2.7 percent and matching consensus estimates.
The so-called core CPI grew 0.2 percent month over month and 2.9 percent year-on-year.
June's producer price inflation report will be in the spotlight later today ...