Gold had logged gains in each of the last three sessions as North Korean jitters and the still unfolding record-setting impact from Hurricane Harvey drove investors into haven assets, but two upbeat economic reports Wednesday were seen as potentially giving the Federal Reserve cover to raise interest rates again this year.

Yesterday data shown that US Q2 GDP growth was revised up to 3.0% from the initial 2.6% pace, and compares to the 1.2% Q1 rate. It’s the first 3-handle on growth since Q1 2015. Personal consumption was bumped high to 3.3% from 2.8%. Uptill now Bullion has jumped 12 per cent this year as the dollar weakened, turmoil in the Trump administration cooled optimism over reforms and tensions with North Korea sparked fears of conflict.

In addition, a preliminary report showed that U.S. economic growth for the second quarter was revised even higher expected. The US dollar index, was up 0.53% at 92.80, pulling further away from the previous session’s two-and-a-half year trough of 91.55. But market sentiment improved as U.S. President Donald Trump’s reaction to the North Korean aggression was seen as more moderate than in the past.

Inventories of U.S. crude fell by roughly 5.4m Barrels in the week ended Aug 25, beating expectations of a draw of about only 1.9m barrels. It was the ninth-straight week of falling crude inventories. Gasoline inventories, one of the products that crude is refined into, rose by roughly 35,000 barrels, missing expectations of a draw of 989,000 barrels while distillate stockpiles rose by 748,000 barrels, confounding expectations of a decline of 846,000 barrels.

Cotton on MCX settled flat pressured by expectation of good production due to higher acreage. However, as the Cotton acreage is higher this year, industry expects cotton output to be sufficient. As per latest data from Agricultural Ministry, the area under cotton was at 119.7 lakh ha, up 16.7% on year. Cotton output is likely to increase to 345 lakh bales in 2016-17 (October to September period) as compared to the last year.

The arrivals last week showed an upsurge as the second round of picking has reached its peak. Total arrivals increased to 550 tonnes from 388 tonnes the week before. At auction conducted by the Cardamom Planters Association (CPA) in Bodinayakannur the average price declined to Rs. 1,039.25 a kg from the previous Monday’s average of Rs. 1,075.18 a kg.