After three months of declines, inflation ticked up again in May. Here's what that could mean for the price of gold.

Gold prices were rising on Wednesday as investors snapped up the safe-haven asset amid uncertainty about the looming inflation report and a 30-year Treasury auction that will show how the market is feeling about the ballooning U.

U.S. wholesale prices rose modestly last month from a year earlier, another sign that inflationary pressures remain mild