Gold prices rose more than 1 percent on Wednesday, hovering near a 10-week high, as traders awaited U.S. consumer price inflation data for clues on the Federal Reserve's next move. Spot gold traded up over 1 percent at $4,413 an ounce, while U.S. gold futures were up 0.8 percent at $4,477.30. The gains were driven by reduced expectations of Fed rate hikes after recent data showed a surprise contraction in the U.S. jobs market. The consumer price report is expected to show a 0.1 percent rise in July after a 0.4 percent decline in June, with core prices forecast to increase 0.2 percent after being unchanged. Producer price inflation data is due Thursday, followed by retail sales and consumer sentiment readings on Friday.
