Gold Surges Ahead of Federal Reserve Decision Amid Rising Yields

Gold prices surged back above $4,300 per ounce on Wednesday as markets prepared for the Federal Reserve's latest interest rate decision. Spot gold traded around $4,350 during the session, recovering from its lowest level in over a month.

The rebound followed recent pressure from a stronger US dollar and higher Treasury yields, which increased the appeal of interest-bearing assets compared to gold.

Markets are focused on an expected 25 basis point rate increase, but the main attention is on the Federal Reserve's guidance on future actions. Chair Kevin Warsh's comments could have a significant impact on gold prices if they indicate further increases are likely.