Gold rose on Wednesday as investors awaited U.S. economic data that could influence the Federal Reserve's decision on the timetable for interest rate cuts.
Spot gold rose 0.3 percent to $2,416.62 an ounce by 0402 GMT. U.S. gold futures rose 0.4 percent to $2,417.10.
A majority of economists in a Reuters survey expect the Federal Reserve to cut interest rates only twice this year, in September and December, as U.S. consumer demand calls for a cautious approach despite falling inflation.
As for other precious metals, silver rose 0.2 percent to $29.28 per ounce, platinum was steady at $945.73 per ounce, and palladium was steady at $925.64 per ounce.
