Gold Rebounds After Hitting Two-Month Low

Gold prices hit a two-month low early in the day, dropping to $4,104 during Asian trading. The decline came amid rising Treasury yields and a stronger dollar. However, the metal quickly recovered, climbing back above $4,163 by midday. Investors are now looking ahead to the Federal Open Market Committee (FOMC) minutes, set to be released later in the week, for further guidance on market direction.

The sharp dip in gold prices was driven by a combination of factors, including increased Treasury yields and a firmer U.S. dollar, both of which typically weigh on gold's appeal as a non-yielding asset. The rebound suggests some buyers saw the dip as an opportunity to enter the market at lower levels.