02:00 PM EDT, 05/20/2026 (MT Newswires) -- (Updates prices.)

Gold traded higher midafternoon Wednesday as treasury yields and the dollar fell.

Gold for June delivery was last seen up US$25.90 to US$4,537.10 per ounce.

The price of the precious metal has been challenged by a higher dollar and rising bond yields as investors fret the high oil prices that have followed the war on Iran will force central banks to hike interest rates to stave off rising inflation.

"Gold trades lower on Fed hike anxiety as the dollar, and not least bond yields, continue to rise amid inflation concerns driven by the Middle East conflict and prolonged disruption to the supply of key commodities moving from the Persian Gulf through the almost closed Strait of Hormuz," Saxo Bank noted.

The dollar weakened, with the ICE dollar index last seen down 0.19 points to 99.13. Treasury yields eased off 15-month highs, with the U.S. two-year note last seen down 7.0 basis points to 4.057% after rising to the highest since February 2025 a day earlier, while the 10-year note was paying 4.586%, down 8.5 points.