Gold futures ended lower on Wednesday pressured by a sharp rise in the dollar as investors continued to flee safe-haven assets amid a decline in geopolitical uncertainty. Yellow metal prices further declined as data showed US inflation remains tame. According to a report released by the Labor Department, producer prices in the US rose by slightly less than expected in the month of August. The Labor Department said its producer price index for final demand edged up by 0.2 percent in August after slipping by 0.1 percent in July. 

The increase in producer prices was partly due to a jump in energy prices, which surged up by 3.3 percent in August after falling by 0.3 percent in the previous month. Prices for gasoline spiked by 2.9 percent. Gold futures for December delivery declined $4.70, or 0.4 percent, to settle at $1,328 an ounce on the Comex division of the New York Mercantile. While, spot gold was down 0.65 percent at $1,322.91 an ounce.

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