Kuwait city: Gold prices held steady on Wednesday: Gold prices remained unchanged as investors monitored developments in the Middle East while grappling with inflation concerns and awaited upcoming US economic data.

According to Emirates News Agency, spot gold was stable at $4,485.17 per ounce by 0319 GMT, following a rise of over 1 percent in the previous session. Meanwhile, US gold futures for August delivery saw a slight decrease of 0.1 percent, settling at $4,513.60.

Other precious metals experienced slight fluctuations. Spot silver decreased by 0.1 percent to $75.01 per ounce, while platinum saw a decline of 0.2 percent, reaching $1,933.15. In contrast, palladium experienced a modest gain of 0.2 percent, increasing to $1,372.25.