Fed Minutes Loom Large Over Gold Markets Amid Rising Yields

Gold prices declined on Tuesday as US Treasury yields rose and investors awaited the release of minutes from the Federal Reserve's latest policy meeting.

The precious metal fell by 0.5% to $4,391.14 per ounce, while US gold futures for December delivery dropped 0.6% to $4,446.70, according to Al Jazeera.

The increase in Treasury yields weighed on gold because the precious metal does not generate interest or regular income, making bonds more attractive to investors as yields rise.

Rising oil prices also contributed to market pressure, with Iran announcing a shift to a 'fully offensive' military posture after talks with the US stalled.