Gold Prices Rebound Amid Fed Rate Expectations

Gold prices rebounded from an eight-week low to near $4,180 in early Asian trading on Wednesday.

The potential upside for gold may be limited as oil-driven inflation has reinforced expectations of tighter monetary policy by the US Federal Reserve (Fed).

Traders are waiting for clues on whether the Fed will continue raising interest rates to combat inflation, with a stronger US Dollar and higher US Treasury yields also supporting a rate hike.