Commodities
Gold Prices Edge Higher Amid Easing Yields and Fed Minutes Anticipation
Gold prices inched higher in early Asian trade on Wednesday as US Treasury yields eased from recent highs. Spot gold was up 0.2% at $4,342.33 per ounce.
The move comes after a nearly 2% fall on Tuesday. Meanwhile, US gold futures for December delivery edged 0.6% lower to $4,396.30.
US yields backed off earlier highs amid a global bond selloff that saw long-term borrowing costs in major economies edge toward their highest levels in decades.
The receding prospects of a deal to end the nearly six-month conflict between Iran and the US drove up oil prices, which could bolster the case for higher interest rates to rein in inflation.