\n 2026-08-18T05:23:43+00:00<\/p>\n
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Shafaq News<\/p>\n
Gold prices came under pressure on Tuesday from higher \u200cTreasury yields and a spike in oil prices, while traders awaited minutes of the U.S. Federal Reserve’s July policy meeting for clues on the outlook for interest rates.<\/p>\n
Spot gold was down \u200b0.5% at $4,391.14 per ounce, as of 0423 GMT, while U.S. gold futures \u200bfor December delivery dropped 0.6% to $4,446.70.<\/p>\n
Yields on the benchmark 10-year U.S. \u2060Treasury note extended gains, raising the opportunity cost of holding non-yielding bullion.<\/p>\n
Oil prices \u200balso edged higher after Iran said it would shift to a “fully offensive” military posture \u200bfollowing a breakdown in efforts to negotiate a permanent end to the war with the United States, while Washington ruled out extending a temporary ceasefire agreement.<\/p>\n
Oil prices will remain one of \u200bthe key factors keeping gold under pressure as situation in the Middle East \u200bcontinues to look uncertain, ANZ analyst Soni Kumari said.<\/p>\n
Traders’ expectations around Fed policy rates are going \u200cto \u2060be important for gold, with a focus on technical levels, Kumari added.<\/p>\n
Elevated energy prices tend to raise inflationary fears and bolster expectations of higher interest rates by the Fed. While gold is typically seen as a hedge against inflation, higher interest \u200brates tend to diminish \u200bbullion’s appeal.<\/p>\n
However, market \u2060pricing for a September quarter-point hike flipped to a nearly 65% chance of a “hold” after unexpected job losses in July, \u200blower-than-expected consumer price inflation and weaker retail sales.<\/p>\n
Investors are also \u200bawaiting minutes \u2060from the Fed’s most recent policy meeting, with the release scheduled for Wednesday.<\/p>\n
Spot gold may test a support at $4,381, a break below could open the way toward the $4,320 \u2060to $4,351 range, \u200baccording to Reuters technical analyst Wang Tao.<\/p>\n
Among other metals, \u200bspot silver slipped 1% to $65.11 per ounce, platinum lost 1.2% to $1,748.56, while palladium fell 1.2% to $1,317.01.<\/p>\n
(REUTERS)<\/p>\n
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