CHICAGO, July 13 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday as the U.S. Consumer Price Index (CPI) was higher than expected in June.

The most active gold contract for August delivery rose 10.7 U.S. dollars, or 0.62 percent, to close at 1,735.5 dollars per ounce.

The U.S. Labor Department reported Wednesday that the CPI, a major gauge of inflation, rose 9.1 percent in June from a year earlier in a broad-based advance, the largest gain since the end of 1981, and increased 1.3 percent from a month earlier, the most since 2005. The annualized rate has exceeded market expectations of an 8.8-percent increase.

A weaker dollar also supported gold.

U.S. President Joe Biden called the inflation unacceptably high. The CPI reading in June fueled market expectations for a higher interest rate from the Federal Reserve to contain the rising inflation.

Investors are also waiting for the U.S. producer price index, another inflation measure, due out on Thursday.

Silver for September delivery rose 23.6 cents, or 1.24 percent, to close at 19.194 dollars per ounce. Platinum for October delivery rose 9.7 dollars, or 1.17 percent, to close at 837.8 dollars per ounce. Enditem

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