Gold jumps about 3% on weaker dollar, lower bond yields
GLD•Gold rises to highest since June 5
Gold surged 3% to its highest price in more than two and a half months on Wednesday as a drop in the U.S. dollar and bond yields boosted the appeal of non-yielding bullion ahead of the release of the minutes from the Federal Reserve's July 28-29 policy meeting.
Spot gold XAU= was up 2.7% to $4,448.97 per ounce by 9:37 a.m. EDT (1337 GMT) after touching its highest level since June 5 at $4,466.01 earlier in the session. U.S. gold futures GCcv1 increased nearly 2% to $4,506.70.
On the technical front, spot gold broke above its 100-day moving average of around $4,381.
Other precious metals also advance
Among other metals, spot silver XAG= rallied 2.7% to $65.01 per ounce, platinum XPT= edged up 3.2% to $1,766.55 and palladium XPD= advanced 2.3% to $1,319.03.
Fed minutes due as rate-hold bets rise
The U.S. central bank is scheduled to release the minutes of its last policy meeting at .
