Gold gains on dollar dip

Gold prices rose on Wednesday, boosted by concerns of an economic hit from soaring energy prices and a slight retreat in the dollar, as investors braced for U.S. inflation data.

Spot gold rose 0.4% to $1,767.08 per ounce by 0908 GMT, while U.S. gold futures were up 0.5% at $1,767.10.

The benchmark U.S. 10-year Treasury yields eased from their June highs, while the dollar gave up gains clocked in the previous session, making bullion cheaper for overseas buyers.

KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.

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