Gold Prices Touch One-Week High On Softer U.S. Dollar

Gold prices rose to a one-week high on Wednesday, rebounding from a seven-month low touched in the previous session, as a softer U.S. dollar stoked demand for the yellow metal.

Spot gold was up 0.6 percent at $1,260.06 an ounce as of 0712 GMT after touching $1,261.10, a one-week high.

The yellow metal has gained over $20 from Tuesday's low of $1,237.32 an ounce, its weakest since Dec. 12.

U.S. gold futures for August delivery were trading 0.6 percent higher at $1,261.30 an ounce.

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