02:00 PM EDT, 07/16/2025 (MT Newswires) -- (Updates prices.)

Gold traded higher midafternoon on Wednesday as the dollar fell after a report showed U.S. wholesale prices remained steady last month.

Gold for August delivery was last seen up US$22.80 to US$3,359.50 per ounce.

The U.S. Bureau of Labor Statistics reported the Producer Price Index (PPI) was unchanged in June from the prior month, while the consensus estimate expected a 0.2% monthly rise, according to Marketwatch. Core PPI, excluding volatile items, was also unchanged, again less than the consensus for a 0.2% monthly rise.

The data follows on Tuesday's release of the U.S. Consumer Price Index, which showed retail prices rose at a 2.7% annualized pace in June, up from 2.4% in May.

The dollar fell following the report. The ICE dollar index was last seen down 0.38 points to 98.24. Treasury yields also dropped, with the U.S. two-year note last seen paying 3.887%, down 7.2 basis points, while the yield on the 10-year note was down 3.4 points to 4.454%.