Gold Rebounds From Near 1-Week Low

Gold prices rose on Wednesday, as bargain hunters stepped in after bullion dropped to a near one-week low in the previous session, while focus was also on the US private payroll data for cues on future interest rate cuts.

Spot gold rose 0.8% to $3,961.85 per ounce. Bullion fell more than 1.5% on Tuesday, hitting its lowest since Oct. 30.

US gold futures for December delivery rose 0.2% to $3,970.10 per ounce.

Bullion hit a record high of US$4,381.21 on Oct. 20, but has fallen close to 10 percent since then.

Elsewhere, spot silver rose 1.2 percent to US$47.68 per ounce, platinum gained 0.1 percent to US$1,537.10, and palladium climbed 0.2 percent to US$1,394.75.