Gold Prices Close Higher with Investors Turning Eyes to Impeachment

Gold prices rose on Wednesday, after data showed an increase in the inflation rate in the United States and amid anticipation for what could be the second impeachment of President Donald Trump by the House of Representatives.

Gold futures for February delivery gained $10.70, or 0.6%, and closed at $1,854.90 per ounce.

The yellow metal has recovered from its losses on Tuesday.

This is also the highest closing level for the most-active gold contracts since January 7.