Gold prices rose on Wednesday as Asian markets opened, with the precious metal trading near $4,355 per ounce.
The increase came as yields on US Treasury securities declined. Lower Treasury yields often support gold because they reduce the opportunity cost of holding the non-yielding asset.
Investors are now watching the Federal Reserve closely. Markets are waiting for the minutes of the US central bank’s latest meeting.
Spot gold gained 0.3% on Wednesday and reached around $4,355 per ounce. Gold futures for December delivery traded near $4,400 per ounce.
At the same time, US Treasury yields moved away from the highest levels recorded in recent days. The decline provided additional support for gold during early trading.
Markets are also monitoring developments involving the United States and Iran. US President Donald Trump said the Strait of Hormuz remains open. He also said that no negotiations with Iran are currently taking place.
Iranian officials have made opposing statements. They have said the strategic waterway remains closed. The conflicting statements have increased uncertainty over the future of the regional crisis.
The disagreement has also reduced expectations for an agreement that could help end the six-month conflict involving Iran.
Meanwhile, recent US economic data has shown signs of slower growth. Unemployment, inflation and retail sales figures have raised concerns about the strength of the US economy.
However, the Strait of Hormuz crisis could create another challenge for the Federal Reserve. Higher energy costs could keep inflation elevated for longer.
That situation could complicate the central bank’s interest-rate decisions. If inflation remains high, the Federal Reserve could face pressure to maintain or increase interest rates.
The Federal Reserve minutes are scheduled for release at 9:00 p.m. Erbil time on Wednesday, August 19, 2026.
Investors will closely examine the document for new signals about US monetary policy.
Any indication of future rate changes could influence the dollar, Treasury yields and gold prices.
For now, lower yields and geopolitical uncertainty continue to support gold. However, the Federal Reserve minutes could determine the metal’s next major move.
