gold for june delivery gc00 gcm22 rose 830 or 04 to 193140 an ounce on comex while may silver sik22 was up 67 cents or 03 to 24525 an ounce gold ended lower in wednesday’s session then saw volatile electronic trading after minutes from the federal reserve’s march meeting moving higher then lower as the minutes offered insight into the central bank’s plans to shrink its balance sheet and affirmed that policy makers are prepared to hike rates in outsize halfpercentagepoint increments in their effort to rein in inflation gold suffered as longdated treasurys sold off pushing the yield on the 10year note to its highest since march 2019 higher yields on government debt and other bonds raises the opportunity cost of holding nonyielding assets like gold overall gold has held up well despite a backup in yields so far this year analysts said the yellow metal remains up 56 in the year to date with support tied in part to demand for haven assets sparked by russia’s invasion of ukraine as well as concerns about the war’s ability to drive up already surging inflation gold is seen as a hedge against inflation the rising trend in yields hint that the mediumterm direction gold “should be the south and we could see the price of an ounce sink sustainably to 18001820 area which includes the 200day moving average” said ipek ozkardeskaya senior analyst at swissquote in emailed comments “what keeps gold prices sustained right now is the fact that russia is one of the largest gold miners and that the safe haven demand remains tight as the geopolitical tensions remain relatively high” the analyst wrote