Gold Gains Ahead of Fed Minutes
Gold prices rose during early Asian trading on Wednesday, as U.S. Treasury yields decreased from their recent highs amid investor anticipation of the Federal Reserve's monetary policy meeting minutes. The spot gold price increased by 0.2% to $4,342.33 per ounce after dropping nearly 2% on Tuesday, while December gold futures fell by 0.6% to $4,396.30. The decline in U.S. Treasury yields sparked a shift in momentum, amid a global bond sell-off that pushed borrowing costs to their highest levels in decades. Meanwhile, markets are focused on the possibility of holding interest rates steady or raising them, depending on the upcoming meeting minutes. In the precious metals sector, silver declined by 0.5% to $62.99, platinum rose by 0.3% to $1,717.03, and palladium fell by 0.3% to $1,286.73.
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