Gold slips 0.5 % as Investors Await Fed Appointment

Gold prices slid about 0.5 % on Wednesday as yields on 10‑year U.S. Treasuries rebounded after four days of declines, making the non‑yielding metal less attractive.

Spot gold dropped to about $3,362.54 per ounce while U.S. gold futures fell to $3,417.30. Investors are waiting to see who President Donald Trump will nominate to fill a vacant seat on the Federal Reserve’s Board, with a decision expected this week

Markets also price in an 87 % probability of a rate cut in September after a weak U.S. jobs report and the firing of the Bureau of Labor Statistics commissioner. Trade tensions remain elevated as Trump threatens tariffs on Indian goods over its purchases of Russian oil

Despite the pull‑back, analyst Ricardo Evangelista of ActivTrades sees scope for gold to move toward $3,400 per ounce, citing demand driven by tariff frictions, growth and inflation concerns, and a weak dollar”