Gold Prices Rebound Amid Falling US Treasury Yields

Gold prices rebounded globally on Wednesday as US Treasury yields declined, causing investors to reevaluate their portfolios.

The price of gold rose 0.5% to $4,356.55 per ounce, partially recovering from a nearly 2% drop in the previous trading session on Tuesday.

US gold futures edged down 0.2% to settle at $4,410.20 per ounce.

The decline in US Treasury yields suggests that investors are anticipating a pause in interest rate hikes by the Federal Reserve.

Data from the Chicago Board of Trade's Interest Rate Monitor indicates that markets are pricing in a 64% probability that the Fed will leave interest rates unchanged at its September meeting, while only a 36% probability suggests a rate hike.