India In-Focus — Bond yields end up; rupee makes marginal gains

RIYADH: Gold prices were flat on Wednesday, as the US dollar strengthened after hawkish comments from a Federal Reserve official kept investors cautious ahead of the Jackson Hole symposium due later this week.

Spot gold was steady at $1,747.58 per ounce, as of 0527 GMT, after rising 0.7 percent in the previous session. US gold futures eased 0.1 percent to $1,760.20.

The dollar firmed near its recent peak against its rivals, making gold more expensive for buyers holding other currencies.

Silver falls

Spot silver fell 0.3 percent to $19.11 per ounce, while platinum was flat at $879.71. 

Palladium gained 0.3 percent to $1,985.44.

Grains up

Chicago grains futures extended gains on Wednesday, as a tour of key growing areas in the Midwest raised concerns that the size of the US corn and soybeans crop will fall below expectations.

The Chicago Board of Trade’s most-active corn contract was up 1.37 percent at $6.64-1/4 a bushel, as of 0327 GMT, after rising to its highest level since June 28 earlier.

Wheat jumped 1.75 percent to $8.14-1/2 a bushel and soybeans rose 0.89 percent to $14.74 a bushel.

Base metals mixed

Prices of base metals were mixed on Wednesday, as dismal data from major global economies partially countered supply concerns and expectations of demand recovery in top consumer China.

Three-month copper on the London Metal Exchange was down 0.3 percent at $8,095 a ton, as of 0740 GMT.

LME zinc climbed 0.2 percent to $3,491 a ton, aluminum increased 0.7 percent at $2,441.50 a ton, while lead was down 1.2 percent at $1,953 a ton.

(With input from Reuters)