Gold prices rose in the morning , seeing some relief as the dollar retreated on some positive comments from Federal Reserve Chair Jerome Powell. But the yellow metal still remained within a trading range established through most of June, as anticipation of more cues on U.S. interest rates kept traders biased towards the dollar. Strength in gold came tracking an overnight decline in the dollar, after the Fed\u2019s Powell flagged progress towards bringing down inflation. But Powell also warned that the central bank still needed more confidence to begin trimming interest rates. This notion, coupled with anticipation of more key cues on the U.S. economy, kept gains in gold and other metals limited. Focus is now on the minutes of the Fed\u2019s June meeting, due later on Wednesday, as well as addresses by other Fed officials in the coming days. More closely watched will be nonfarm payrolls data due this Friday, which is set to offer definitive cues on the labor market.\u00a0<\/p>\n\n\n\n
Spot gold rose 0.1% to $2,332.16 an ounce, while gold futures expiring in August rose 0.3% to $2,341.25 an ounce<\/p>\n\n\n\n