Gold softens on rising US Treasury yields, traders eye Fed minutes — Reuters

Gold prices drifted lower on Tuesday, August 18, pressured by higher US Treasury yields and firmer crude oil prices as market participants turned cautious ahead of minutes from the Federal Reserve's latest policy meeting.

Spot gold fell 0.5% to $4,391.14 per ounce, while US gold futures for December delivery shed 0.6% to trade at $4,446.70 per ounce, Reuters reported.

The broader precious metals complex also softened, with silver, platinum, and palladium each dropping approximately 1%. An uptick in benchmark 10-year US Treasury yields increased the opportunity cost of holding non-yielding bullion.

Investors are now awaiting the Wednesday release of the Fed’s July policy meeting minutes for fresh direction on the prospective path of US interest rates.

N.Tebrizli