Gold prices edged lower on Wednesday as elevated US Treasury yields and a firm US dollar continued to weigh on investor sentiment across precious metals markets.
Spot gold fell 0.4% to $4,464.64 per ounce by 04:39 GMT after earlier touching its lowest level since March 30.
US gold futures for June delivery declined 1% to $4,466.40 per ounce.
Analysts said higher Treasury yields increased the opportunity cost of holding non-yielding assets such as gold, while a firmer dollar reduced bullion’s attractiveness to international buyers.
The decline comes as investors continue to reassess expectations around US interest rates, inflation trends, and global economic conditions.
The broader precious metals market also saw mixed performance during the session.
Spot silver slipped 0.3% to $73.59 per ounce, while platinum declined 0.3% to $1,917.18.
Palladium, however, rose 0.7% to $1,366.35, outperforming other major precious metals.
Market participants are closely monitoring signals from the US Federal Reserve regarding the future path of monetary policy, as well as geopolitical developments and movements in global bond markets.
Gold prices have remained volatile in recent weeks amid fluctuations in oil prices, inflation concerns, and changing investor expectations around interest rates and safe-haven demand.
