Gold up on lower yields

Gold prices on Wednesday were lifted from near one-month lows by weaker Treasury yields, ahead of a potentially aggressive interest rate hike from the U.S. Federal Reserve as it seeks to combat inflation amid mounting fears of an impending recession.

Spot gold was up 0.5% at $1,817.12 per ounce as of 0229 GMT, after dropping to its lowest since May 16 at $1,803.90 on Tuesday. U.S. gold futures rose 0.3% to $1,818.50.

The Federal Open Market Committee is expected to announce its decision on interest rates at 1800 GMT later in the day.

KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.

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