Gold gains early in mid-week
Gold prices rose at the start of Asian trading amid a decline in U.S. Treasury bond yields, as the gold market awaited the Federal Reserve's meeting minutes. The spot gold price increased by 0.2% to $4,342.33 per ounce, after a nearly 2% drop the previous day, while December futures fell by 0.6% to $4,396.30. The decline in U.S. Treasury yields eased downward pressure on gold, although higher interest rates typically weigh on this precious metal and reduce its attractiveness as an inflation hedge. The Federal Reserve's meeting minutes are expected to be released later today, with investors widely expecting the interest rate to remain steady at 65%, though a rate hike in September is still possible. Other precious metals showed mixed performance, with silver slipping 0.5% to $62.99, platinum rising 0.3% to $1,717.03, and palladium decreasing 0.3% to $1,286.73.
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