Gold ends three-session slip

Gold futures on the COMEX division of the New York Mercantile Exchange rose Wednesday after losing three sessions in a row.

The most active gold contract for August delivery went up 2.7 U. S. dollars, or 0.21 percent, to settle at 1,299.8 dollars per ounce.

Gold imports by India, the world's second-largest gold consumer, jumped 65 percent in June, which sent gold price above the 1,300- dollar level earlier Wednesday. However, gold price started to drop as data showed the Producer Price Index (PPI) rebounded notably in June, which restrained the rise of gold price.

The PPI for total final demand rebounded 0.4 percent over last month, following a decline of 0.2 percent in the previous month, the U.S. Labor Department said Wednesday.

Industrial production rose a seasonally adjusted 0.2 percent in June, following a jump of 0.5 percent in May, according to data released Wednesday by the U.S. Federal Reserve.

Silver for September delivery lost 11.4 cents, or 0.55 percent, to close at 20.775 dollars per ounce. Platinum for October delivery rose 0.7 dollars, or 0.05 percent, to close at 1,485.7 dollars per ounce.