Gold rates flat as Janet Yellen's comments counter muted dollar

By Reuters7 days ago

Gold prices were flat on Wednesday, as concerns over possibility of higher U.S. interest rates countered a subdued dollar, while palladium held firm after scaling a record high in the previous session.

FUNDAMENTALSSpot gold was unchanged at $1,778.53 per ounce by 0137 GMT, after falling over 1% in the previous session.

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U.S. gold futures rose 0.2% to $1,779.00 per ounce.

Palladium rose 0.1% to $2,985.81 per ounce, after scaling an all-time high of $3,017.18 per ounce on Tuesday.

Supply shortfalls were worsened after top producer Nornickel announced disruptions at two Siberian mines due to waterlogging.

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