Gold Hovers Near Seven-Month Low as Bond Yields Rise and Fed Signals Weigh on Markets

Gold prices are staging only a modest recovery after a sharp drop on Tuesday, trading at around $4,010 per ounce and remaining close to a seven-month low. Investors are closely watching rising bond yields and signals from the U.S. Federal Reserve, both of which tend to weigh on gold by making yield-bearing assets more attractive by comparison. The cautious market mood has left traders hesitant to push prices significantly higher in the near term.