Gold rises on higher-than-expected inflation data

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,