Ammon News - Gold edged higher on Wednesday, supported by a weaker dollar after mild U.S. inflation data cemented bets for an interest rate cut in September, while investors awaited this week's U.S.-Russia talks over the war in Ukraine.

Spot gold was up 0.2% at $3,351.46 per ounce, as of 0447 GMT. U.S. gold futures for December delivery were steady at $3,399.60.

"The fall in the USD enabled a moderate bounce in the gold price, with the precious metal oscillating around the $3,350 level ahead of the Trump-Putin meeting on Friday," said Tim Waterer, chief market analyst at KCM Trade.

Data released on Tuesday showed that the U.S. Consumer Price Index (CPI) rose 0.2% in July, following a 0.3% increase in June. On a year-over-year basis, the CPI climbed 2.7%.

The dollar index extended declines, making greenback-denominated assets more affordable to holders of other currencies.

Elsewhere, spot silver rose 0.8% to $38.17 per ounce, platinum eased 0.1% to $1,335.82 and palladium was flat at $1,129.37. Reuters