Gold firms as Treasury yields ease; Fed minutes in focus
GLD•TD Securities outlook
TD Securities said silver and platinum group metals were expected to benefit from a supportive macroeconomic backdrop in the second half of 2027, with easing inflation risks, a weaker U.S. dollar and lower carry costs likely to drive a stronger price response than gold.
Gold rises as yields ease
Aug. 19 (Reuters) - Gold rose on Wednesday as Treasury yields eased, with investors awaiting minutes of the U.S. central bank's July meeting for fresh clues on the monetary policy outlook.
Spot gold climbed 0.5% to $4,356.55 per ounce by 0327 GMT after falling nearly 2% on Tuesday, while U.S. gold futures slipped 0.2% to $4,410.20.
U.S. yields backed off earlier highs on Tuesday, switching directions amid a global bond selloff that saw long-term borrowing costs in major economies edge toward their highest levels in decades.
Geopolitics and other metals
On the geopolitical front, U.S. President Donald Trump said on Tuesday that no talks were taking place with Iran and insisted the Strait of Hormuz was open, contradicting Iran's assertion that the critical waterway remained shut to shipping.
Oil prices gained for a fourth straight session.
Among other metals, spot silver slid 0.4% to $63.03 per ounce, platinum gained 0.5% to $1,720.10 and palladium held steady at $1,289.45.
Fed minutes and rate expectations
The minutes of the Federal Open Market Committee's July meeting are scheduled for release at 1800 GMT.
Traders are pricing in a 64% probability of a Fed hold and a 36% chance of a rate hike next month, according to the CME FedWatch Tool. Bets for a hike have declined after a series of soft U.S. economic data.
