Gold prices rise to $4,342 as investors await Fed minutes

Gold prices rose slightly during early Asian trading on Wednesday, 19 August, as a decline in U.S. Treasury yields supported the metal ahead of critical economic data. Market participants are now awaiting the release of the U.S. Federal Reserve’s latest meeting minutes to gauge the future path of interest rates. Spot gold recovers from Tuesday losses Spot gold increased by 0.2% to reach $4,342.33 per ounce at 00:30 GMT. The marginal gain follows a volatile session on Tuesday where the precious metal fell nearly 2%. In contrast, U.S. gold futures for December delivery slipped 0.6%, trading at $4,396.30 per ounce. The price movement coincides with a softening of U.S. Treasury yields, which had recently hit multi-month highs. Lower yields typically reduce the opportunity cost of holding non-yielding bullion, making gold more attractive to investors holding other currencies. Silver and PGMs trade mixed Other precious metals showed varied performance in the Wednesday morning session. Spot silver declined by 0.5%, falling to $62.99 per ounce. In the platinum group metals (PGM) sector, platinum climbed 0.3% to reach $1,717.03 per ounce, while palladium dropped 0.3% to trade at $1,286.73 per ounce. The primary trigger for today's market caution is the scheduled release of the Federal Reserve’s minutes, which will provide insight into the central bank's internal discussions regarding inflation and potential rate cuts. For UAE-based investors and retail gold buyers, the stabilization…