Gold rises 0.2% to $4,342.33 per ounce ahead of the US Federal Reserve minutes

Gold prices rose in early Asian trading on Wednesday as yields on U.S. Treasury bonds retreated from their recent highs, while traders awaited the release of the Federal Open Market Committee’s meeting minutes, commonly referred to as the U.S. central bank’s minutes.

Spot gold rose 0.2 percent to $4,342.33 per ounce, as markets looked ahead to the release of the Federal Reserve’s meeting minutes at 00:30 GMT, following a decline of about 2 percent on Tuesday. Meanwhile, U.S. gold futures for December delivery fell 0.6 percent to $4,396.30.

U.S. Treasury bond yields retreated from their recent highs and reversed course amid a global wave of selling in bonds, which pushed borrowing costs for long-term debt in major economies to their highest levels in decades.