Gold Prices Rise, Then Fall Amid US-Iran Tensions and Rate Hike Fears

Gold prices rose for a third consecutive session on August 17 as concerns about an upcoming US interest rate hike eased. Investors were awaiting minutes from the Federal Reserve's latest meeting to gain clarity on monetary policy. Despite this, gold fell due to rising Treasury yields and inflation worries triggered by escalating tensions between the US and Iran.

The spot price of gold decreased 0.5% to $4,393.11 per ounce, while U.S. gold futures for December delivery dropped 0.6% to $4,448. This decline came as Treasury yields surged to their highest levels in decades, further exacerbating inflation concerns.