Gold Prices Rebound: Investor Anticipation Drives Uptick

On Wednesday, gold prices experienced a notable rebound, surging over 1% after hitting a one-week low in the previous session. The market's anticipation was palpable as investors eagerly awaited the minutes from the U.S. Federal Reserve's January meeting, set to be released later in the day.

Trading at $4,927.19 per ounce by 1240 GMT, spot gold rallied on the back of opportunistic buying. U.S. gold futures for April saw gains as well, climbing 0.9% to $4,947.70. Analyst Bernard Dahdah from Natixis noted investor positioning ahead of the Fed's insights into January's monetary policy movements.

Despite the geopolitical thawing between the U.S. and Iran and a recent stronger dollar, which dampened safe-haven demand, investors are keenly watching upcoming economic indicators. These include the U.S. Personal Consumption Expenditures report, key for gauging potential rate cuts.