Gold futures posted modest gains Wednesday on heightened expectations of a Federal Reserve interest rate cut after mild July inflation data signaled limited pass-through from President Trump's tariffs.

Gold rose on Wednesday as expectations of a U.S. Federal Reserve interest rate cut in September gained traction following mild inflation data, while a weaker dollar bolstered demand. Spot gold gained 0.

Spot gold was up 0.3% at $3,356.98 per ounce by 1:15 p.m. ET, rebounding from a one-week low from the previous session. US gold futures also gained 0.3%, trading at $3,408.20 an ounce in New York.