Gold prices rose on Wednesday, and rebounded from a 7-week low, to head for the first gain in 3 days, after the latest updates in the US bond market.

Gold prices rose 0.5% to $1,743.39 an ounce, after opening at $1,734.21, and hit a high of $1,733.26.

Gold closed lower by 0.9% yesterday, and hit a 7-week low at $1,728.1 an ounce, due to rising US Treasury bond yield.

The 10-year US Treasury bond yield fell by 2.3% today, after it hit a 3-month high at 1.56%.

Federal Reserve Chairman Jerome Powell said the US economy is still far from achieving maximum employment, a key component of the central bank's requirements for raising interest rates.

Gold stocks at the SPDR ETF fell 0.29 metric tonnes yesterday, with the total the lowest level since April 8, 2020 of 990.03 metric tonnes.

Euro declined in European trade to 2021 lows against dollar, on track for the fourth loss in a row, as investors buy up the greenback as an alternative investment and ahead of ECB President Christine Lagarde's important remarks later today.

EUR/USD fell 0.25% to 1.1656, the lowest since November 20, away from a session-high at 1.1690.

Euro closed down 0.1% yesterday against dollar, third loss in a row on concerns of divergent EU-US monetary policies. 

The dollar index rose 0.2% on Wednesday, the fourth profit in a row, marking ten-month highs at 93.89 against a basket of major rivals.

Dollar's gains come amid a spike in long-term US treasury yields by 1.4% for the fifth straight session to a three-month high at 1.56%, on prospects of earlier than expected US policy tightening. 

ECB President Christine Lagarde is due to participate in a virtual panel discussion titled "Policy panel" at the ECB Forum on Central Banking.

Lagarde said in her earlier testimony ahead of the European Parliament that the ECB will keep monitoring the current increase in inflation as a transient issue for the long term.

US stock indices fell on Tuesday, as the US Treasury bond yields continued to rise.

News agencies reported that US President Joe Biden is considering launching a huge project that would rival China's Belt and Road Initiative.

The US Deputy National Security Advisor Daleep Singh will travel to Colombia, Ecuador and Panama to discuss infrastructure developments in these countries within the new initiative.

Federal Reserve Chairman Jerome Powell stated before the US Congress that the US economy continues to grow despite the increasing inflationary pressures.

The CB consumer confidence index fell to 109.3 points in September, missing forecasts of 115.2 points.

To the oil market, WTI crude October futures fell 0.2% or 16 cents, and closed at $75.29 a barrel. 

Brent November futures fell 0.5% or 44 cents, and closed at $79.09 a barrel, after exceeding $80 a barrel earlier in the session.

As for stocks, Dow Jones fell 1.6% or 569 points, and closed at 34,299, with a day high of 34,798, and a low of 34,254.

S&P 500 fell 2% or 90 points to 4,352, after hitting a high of 4,419 and a low of 4,346 points.

Nasdaq fell 2.8% or 423 points to 14,546, with a high of 14,817 and a low of 14,539.

Silver prices fell on Tuesday, as the US dollar rose against its peers, in addition to the rising US Treasury bond yields.

The CB consumer confidence fell to 109.3 points in September, missing forecasts of 115.2 points.

Federal Reserve Chairman Jerome Powell stated before the US Congress that the US economy continues to grow despite the increasing inflationary pressures.

The dollar index rose against a basket of major currencies by 0.4% to 93.7 points as of 18:08 GMT, after hitting a high of 93.7 points and a low of 93.3 points.

As of 18:08 GMT, silver spot prices fell 1.2% to $22.4 an ounce, with an intraday high of $22.6 and a low of $22.08.