Gold prices rose on Wednesday as markets await important US data this week while the dollar trades flat against most rivals.

Markets await US GDP growth data tomorrow for the fourth quarter of 2024, expected to clock in at 3.2%.

Investors also look forward to personal spending data, the Fed’s favorite inflation gauge, on Friday, expected to show a 0.3% increase.

Otherwise, the dollar index steadied at 104.2 as of 20:47 GMT, with a session-high at 104.4, and a low at 104.2.

On trading, gold spot prices rose 0.7%, or $16.20 as of 20:47 GMT to $2215.40 an ounce.