Spot gold had increased 0.5% to $1,242.92 per ounce, after earlier touching its strongest since May 3 at $1,244.70. It climbed about 0.5% on Tuesday in its biggest one-day percentage gain since April 12. U.S. gold futures were up 0.5% at $1,242.90 an ounce, mentioned a national news portal.
The U.S. manufacturing production posted its biggest rise in more than three years in April. The view has been of picking up economic growth in the second quarter.
The U.S. economy may expand at a 4.1% annualised pace in the second quarter after the release of April figures on housing starts and industrial output.
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