Singapore, November 11 (QNA) - Gold prices rebounded on Wednesday after plunging nearly 3% in the previous session, although expectations of a possible US interest-rate hike next month continued to weigh on the precious metal following the release of hotter-than-expected inflation data.

Spot gold rose 0.3% to $4,043.62 an ounce, while US gold futures for December delivery advanced 0.5% to $4,051.10.

Despite the previous session's sharp decline, gold remains higher by nearly 5% for the week, underscoring the metal's strong recent gains.

Elsewhere in the precious metals market, spot silver climbed 1.7% to $52.38 an ounce, while palladium gained 1.3% to $1,038.38. (QNA)