U.S. Treasury yields retreat and geopolitical uncertainties lead to a slight rebound in gold prices

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智通财经2026/08/19 02:01

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During Wednesday's Asian trading session, spot gold edged up by 0.5% to $4,357.49 per ounce, after having fallen by nearly 2% in the previous session. The US Treasury yield retreated from recent highs, providing some support for gold prices.
US President Trump stated that there have been no negotiations between the US and Iran and insisted that the Strait of Hormuz has reopened to navigation, contradicting Iran's claim that the waterway remains closed to shipping. The prospect of an agreement to end the nearly six-month conflict looks grim, pushing oil prices higher. Although recent US economic data shows sluggish employment growth, easing inflation, and declining retail spending, rising energy prices may reinforce the need for interest rate hikes to curb inflation, creating potential pressure on gold prices.
The market is awaiting the Federal Reserve's release of the July meeting minutes later today for further clues on policy direction. CME FedWatch tool shows traders currently see a 65% probability that the Fed will keep rates unchanged in September and a 35% probability of a rate hike. Meanwhile, surveys show that a majority of economists expect the Bank of England to maintain interest rates at 3.75% for the rest of the year.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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U.S. Treasury yields retreat and geopolitical uncertainties lead to a slight rebound in gold prices

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