Gold Slides Toward Two-Month Lows as Hawkish Fed Minutes Signal Year-End Rate Hike

Spot gold traded around $4,107.44 on Thursday, failing to sustain an earlier rebound toward $4,143.43 as elevated Treasury yields and a strong U.S. dollar pressured the non-yielding metal. The downturn intensified after Federal Open Market Committee minutes showed policymakers broadly supported September's 25-basis-point increase to a 3.75%-4.00% range, with most favoring another hike before year-end. Markets priced in an 86.3% probability of a December rate increase. Rising energy prices stoked inflation risks, lifting the 10-year Treasury yield to approximately 5.36%, though ongoing central bank buying capped deeper losses.