A weakening U.S. dollar sent gold modestly higher in Wednesday trading. The metal gained during a session marked by relatively soft trading volume and drew additional support from rising investor expectations that the U.S. Federal Reserve will delay any tapering of its monthly bond-buying until next year.
Gold futures for December delivery rose 0.7% to $1,317.80 per ounce on Wednesday, according to CME Group. Gold traded as high as $1,322 and as low as $1,308.90. Bullion closed in London at $1,320, according to BullionVault.
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Silver futures for December added 0.6% to $21.77 per ounce. Wednesday’s high for silver was $22.08, while the low was $21.62.