<\/p>\n
Gold rose as a selloff in US bonds eased, relieving pressure on the precious metal after it fell the most in almost a month on Tuesday.<\/p>\n
Bullion climbed as much as 0.6% to trade above $4 360 an ounce, after shedding almost 2% in the previous session. Treasuries steadied following a plunge that sent yields on 30-year notes to the highest in almost two decades on Tuesday. Higher borrowing costs are typically negative for gold, which doesn\u2019t pay interest.<\/p>\n<\/p>\n
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Gold has recovered in recent weeks to trade around $4 400 an ounce, supported by renewed investor demand and central-bank buying, notably from China. A fund manager survey by Bank of America Corp. on Tuesday showed the share who said gold was undervalued hit the highest level since March 2023.<\/p>\n
The dimming prospects for a peace deal between the US and Iran may keep a lid on further gains, however. US President Donald Trump insisted Tuesday that there were no talks ongoing with Tehran, leaving control of the Strait of Hormuz in limbo. The memorandum of understanding the two countries signed in June has expired with no plan to extend it, buoying oil prices. Energy-led inflation puts pressure on the Federal Reserve to raise interest rates, a headwind for bullion.<\/p>\n
While there may not be \u201crenewed selling pressure, the recent surge in flows into precious metals appears to be easing,\u201d Ryan McKay, an analyst from TD Securities, wrote in a note.<\/p>\n
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The next clues on the Fed\u2019s rate path will come later Wednesday with the release of the minutes from its July policy meeting, followed by Chairman Kevin Warsh\u2019s speech to the Fed\u2019s annual Jackson Hole symposium next week.<\/p>\n
Spot gold was 0.5% higher at $4 357.07 an ounce at 11:34 a.m. in Singapore. Silver fell 0.6% to $62.99 an ounce. Platinum and palladium edged higher. The Bloomberg Dollar Spot Index, a gauge of the US currency, declined 0.1%.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Gold #edges #higher #bond #yields #stabilise #surge<\/p>\n","protected":false},"excerpt":{"rendered":"
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