Gold prices exceed $1,800 ahead of US Fed minutes

Gold prices rose on Wednesday, with the US Treasury bond yield falling, and ahead of the Federal Reserve's minutes later today, July 7.

The yield on 10-year US Treasury bonds fell to its lowest level in four months on July 6, in light of the easing of concerns about tightening monetary policy.

Spot gold rose 0.4% to reach $1,804.67 per ounce, and gold futures contracts for August rose 0.5% to reach $1,802.30 per ounce, by 09:30am Makkah time.

Elsewhere, silver rose 1% to $26.45 per ounce, palladium gained 0.1% to hit $2,800 per ounce, and platinum increased 0.2% to $1,097.18 per ounce.

The US dollar index - which measures the performance of the US currency against a basket of six currencies – settled at 92.523 points.