Gold prices buoyed by bargain hunters; robust dollar limits upside

Gold prices inched higher on Wednesday as a slight pullback in US bond yields and bargain-hunting underpinned the market, although a stronger dollar and aggressive interest rate hike fears limited gains.

Spot gold edged up 0.1% to $1 702.59 per ounce by 12:07 GMT, having dropped to its lowest since September 1 at $1 690.10.

US gold futures were little changed at $1 713.30.