gold prices rebounded on wednesday after settling at their lowest level in more than a month as investors awaited an interestrate decision from the federal reserve’s policysetting committee   the price of gold futures expiring in august gcq22 was up 208 dollars or 115 to 1833   silver futures expiring in july sin22 were up 51 cents or 25 to 215 per ounce   platinum futures expiring in july pln22 were up 2560 or 28 to 936 per ounce   palladium futures expiring in september pau22 gained 4330 or 23 to 182350   copper futures expiring in july hgn22 were essentially flat at 416 what analysts are saying strategists at commerzbank said wednesday that gold has been recovering on the back of a weaker us dollar during the new york morning but as investors wait to hear from the federal reserve commerzbank says the prospect of bigger interest rate increases from the fed could send gold lower as bond yields and the us dollar would be expected to rise in that scenario “it will be interesting to hear how powell assesses the outlook for interest rates if he sounds very hawkish and raises the prospect of bigger rate increases – contrary to his previous remarks – we believe that the gains that gold might potentially make would be limited or that the gold price could continue its downswing” said a team of commerzbank strategists in a note to clients naeem aslam the chief market strategist at avatrade said profittaking by currency traders has driven the dollar modestly lower which in turn is giving gold a boost but more importantly fears that the federal reserve has failed to bring inflation under control is making the precious metal more attractive “the damage to the fed’s reputation represent a riskier situation and gold traders are buying the yellow metal to hedge that risk” aslam said the ice us dollar index dxy a measure of the dollar’s performance against a basket of its rivals was off 03 to 1052 us treasury yields tmubmusd10y moved sharply lower with the 10year down 11 basis points to 3368 bond yields move inversely to prices sp 500 futures es00 expiring in september were up 09 to 3773