Gold prices saw modest gains during Asian trading hours as investors awaited the Federal Reserve's December interest rate decision. Spot gold rose 0.05% to $4,192.47 per ounce.
Sucden Financial analysts noted in a report that rising U.S. Treasury yields may be capping precious metal prices. They added, "The Fed meeting is currently the dominant factor, and we expect metal prices to remain range-bound until Chair Powell provides clearer guidance about the pace of easing beyond December."
Market participants are closely monitoring the central bank's policy signals for indications about future monetary easing measures.
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