Gold prices edged higher on Wednesday as the US dollar and Treasury yields were bogged down after Fitch downgraded the country’s credit rating, souring confidence in the economy ahead of key data due this week.

Spot gold was up 0.2% at $1,948.43 per ounce, while US gold futures rose 0.3% to $1,985.60.

The US dollar index and benchmark 10-year Treasury yields dropped after rating agency Fitch downgraded the US government’s top credit rating.

Spot silver added 0.2% to $24.37, platinum held steady at $931.01, and palladium rose 0.5% to $1,246.49. (QNA)

Source: Qatar News Agency