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Data released today by Statistics Canada showed that the inflation index grew as expected for the third consecutive month in December, as the consumer price index fell by 0.1% in December, in line with market expectations, but less than the previous reading, which recorded an increase of 0.2 % last November.
At the same time, Statistics Canada data showed that annual inflation recorded a growth of 2.1%, in line with market expectations as well, but higher than the previous reading, which recorded a growth of only 2.0% during last November.
The price of gold in spot transactions rose 0.2 percent to $ 1817.90 an ounce by 1217 GMT, and US gold futures increased 0.1 percent to $ 1810.80.
Asian and European stock prices fell, helping gold to rise from its lowest level in a week of $ 1805 an ounce hit on Tuesday.
UK two-year Treasury yields rose to 0.958 percent in early trade, the highest since March 2018.
The dollar received a boost from rising US bond yields ahead of the Federal Reserve’s meeting next week to determine its monetary policy.
Ten-year US Treasury yields rose on Wednesday to a two-year high of 1.9 percent.
The euro rose 0.1 percent, to return to its moving average in 50 days at $ 1.1340, after the largest daily decline in a month recorded on Tuesday.
