Gold Holds Steady In Cautious Trade As Treasury Yields Rise

Gold prices held steady on Thursday, even as a broad global bond sell-off and surging oil prices revived inflation and interest-rate worries.

Spot gold edged up 0.3 percent to $4,122.43 an ounce as the dollar held steady near an 18-month high after the release of hawkish Fed meeting minutes. U.S. gold futures were up 0.2 percent at $4,147.90 an ounce.

U.S. Treasury yields surged back toward multi-decade highs, with yields on 10-year and 30-year Treasury notes trading near 5.32 percent and 5.71 percent, respectively after the minutes of the September Federal Reserve monetary policy meeting showed unanimous support for another interest-rate hike by the end of this year.