However, investors' attention is now on the minutes of the US Federal Reserve's latest meeting. It may provide important clues about central bank officials' stance on interest rates and the possible direction of future policy.
According to a Reuters report, spot gold rose 0.2 percent to $4,342.33 per ounce on Wednesday. Earlier on Tuesday, gold prices had fallen nearly 2 percent in the international market.
On the other hand, US gold futures for December delivery fell 0.6 percent to $4,396.30 per ounce.
According to market analysts, when US interest rates and Treasury bond yields fall, gold's appeal as a non-yielding asset typically increases. As a result, any signals about the Fed's next policy move could have a significant impact on the international gold market.
Investors are now mainly focused on the minutes of the Fed's latest meeting. If the policymakers' stance on interest rates becomes clear there, the market may get a clearer picture of the next trajectory of gold prices.
Source: Reuters
