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Gold Rebounds 0.8% to $4,326.44/oz Ahead of Fed Rate Decision; US 10-Year Treasury Yield Hits 5.04%, Highest Since 2007
Spot gold (XAU/USD) gained 0.8% to $4,326.44 an ounce on Wednesday, while gold futures increased 0.8% to $4,366.50. Silver (XAG/USD) advanced 1.4% to $64.59 an ounce, and platinum (XPT/USD) rose 0.7% to $1,792.43. The gains came as markets priced in an approximately 92% probability of a Federal Reserve interest rate increase later today. Meanwhile, the yield on the 10-year US Treasury briefly reached 5.04%, its highest level since 2007, after rising by as much as five basis points on Tuesday.
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