Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday due to a weakening U.S. dollar.

The most active gold contract for August delivery went up 9.7 dollars, or 0.77 percent, to settle at 1,275.40 dollars per ounce.

The U.S. dollar index declined by 0.30 percent to 96.925 as of 1805 GMT. The index is a measure of the dollar against a basket of other major currencies.

Gold and the dollar typically move in opposite directions, which means if the dollar goes down, gold futures will rise.

The precious metal got additional support as the Dow Jones Industrial Average fell by 44.77 points, or 0.21 percent as of 1831 GMT. When equities post losses, the precious metal usually goes up, as investors are looking for a safe haven.

But the rise of gold was limited by expectation that the U.S. Federal Reserve will again raise its key interest rate in June.

Traders foresee a nearly 89 percent probability of a U.S. interest rate hike during Fed's June meeting, according to a CME Group FedWatch survey.

Higher interest rates will support U.S. dollar and curb demand for gold, as it is priced in U.S.dollar and foreign investors have to pay more when using other own currencies.

As for other precious metals, silver for July delivery went down 2.1 cents, or 0.12 percent, to close at 17.406 dollars per ounce. Platinum for July delivery was up 9.2 dollars, or 0.98 percent, to settle at 950.3 dollars per ounce.