Gold prices climbed higher on Wednesday as the dollar retreated after rising to a fresh 20-year high and treasury yields fell from a near three-month high reached in the previous session.
The dollar index, which rose to 110.79 in the European session, dropped to 109.69, losing nearly 0.5% from the previous close.
Gold futures for December ended higher by $14.90 or about 0.9% at $1,727.80 an ounce, the highest close since August 30.
Silver futures for December ended up $0.352 at $18.260 an ounce, while Copper futures for December settled at $3.4305 per pound, down $0.0315 from the previous close.
Data from the Commerce Department showed U.S. trade deficit narrowed significantly in the month of July, shrinking to $70.6 billion from $80.9 billion in June. Economists had expected the trade deficit to narrow to $70.3 billion from the $79.6 billion originally reported for the previous month.
