Gold prices rose in early Asian trading on Wednesday.
This came as U.S. Treasury yields retreated from their recent highs.
Meanwhile, investors are awaiting the minutes from the latest U.S. Federal Reserve meeting.
Spot gold rose 0.2% to $4,342.33 per ounce by 00:30 GMT.
This came after it had fallen by about 2% during Tuesday’s trading.
In contrast, U.S. gold futures for December delivery fell 0.6% to $4,396.30 per ounce.
Gold Prices in the Fed’s Crosshairs
Traders are awaiting the minutes of the Federal Open Market Committee meeting, scheduled for release at 6:00 p.m. GMT.
They are looking for new clues regarding the path of U.S. interest rates.
The CME Group’s “FedWatch” tool indicates a 65% probability that interest rates will remain unchanged in September.
Compared to a 35% probability of a rate hike.
Meanwhile, markets are monitoring geopolitical developments related to Iran and the Strait of Hormuz.
Amid continued pressure on energy markets.
As for other precious metals, silver fell 0.5% to $62.99 per ounce.
Platinum rose 0.3% to $1,717.03, while palladium fell 0.3% to $1,286.73.
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