Gold prices hovered on Wednesday near their lowest level in over a week, pressured by a rising dollar and treasury yields, while new threats from the U.S. President to impose tariffs unsettled the markets.
The spot gold price reached $3,301.50 per ounce. Meanwhile, U.S. gold futures dropped 0.2% to $3,310.10.
The dollar index stabilized after approaching a two-week high, while the yield on the benchmark U.S. 10-year treasury remained near a three-week high.
Higher yields increase the opportunity cost of holding non-yielding gold, making it more expensive for holders of other currencies due to a stronger dollar.
Investors are awaiting the minutes from the latest Federal Reserve meeting, set to be released later today, looking for any hints of potential interest rate cuts amid the central bank’s cautious approach.
In other precious metals, spot silver fell 0.5% to $36.58 per ounce, platinum dropped 0.8% to $1,348.78, and palladium decreased 0.4% to $1,106.29.
