India, June 4 -- Following the pullback seen in the previous session, the price of gold moved back to the upside during trading on Wednesday.
Gold for June delivery climbed $23.30 or 0.7 percent to $3,373.50 an ounce, more than offsetting the $20.40 or 0.6 percent decline on Tuesday to reach its highest closing level in almost a month.
The rebound by the price of the precious metal came amid a decrease in the value of the U.S. dollar, with the U.S. dollar index falling by 0.5 percent.
Gold also benefitted from its appeal as a safe haven following the release of some weaker than expected U.S. economic data.
Payroll processor ADP released a report showing much weaker than expected private sector job growth in the month of May.
ADP said p...