WASHINGTON (dpa-AFX) - Gold held steady on Wednesday and the dollar index was little changed, after having hit two-week lows in the previous session.
Spot gold edged up 0.1 percent to $1,713.39 per ounce, while U.S. gold futures were little changed at $1,711.20.
Risk appetite returned to financial markets as U.S. streaming giant Netflix posted better than expected results for the June quarter and Italian Prime Minister Mario Draghi said in a speech to the Senate that he was willing to put together a new coalition.
Worries about gas supplies eased amid indications that Russia's state-owned energy company, Gazprom, will be restarting gas flows via the Nord Stream 1 pipeline on Thursday.
On the data front, Germany's producer price inflation eased unexpectedly in June from a record high in May, while U.K. consumer inflation hit a new 40-year high in June on rising motor fuel and food prices, separate reports showed.
Canada CPI and U.S. existing home sales data for June are set for release in the New York session.
The euro extended its overnight bounce on speculation the European Central Bank may consider raising interest rates by a larger-than-expected 50 basis points on Thursday.
Bank of England governor Andrew Bailey also raised the possibility of increasing interest rates by half a percentage point in early August.
Elsewhere, the Bank of Japan is widely expected to keep monetary stimulus unchanged on Thursday to avoid deflation.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News
