RIYADH: Gold hit its lowest in nearly two weeks on Wednesday, although prices were range-bound as safe-haven demand for bullion helped offset some sustained pressure from a firmer dollar and elevated US Treasury yields.
A stronger dollar makes bullion more expensive for buyers holding other currencies, while gains in benchmark US 10-year Treasury yields reduce the appeal of zero-yield gold.
Spot gold was down 0.2 percent at $1,833.86 per ounce, as of 0425 GMT, after hitting its lowest since May 20 at $1,832.38 earlier in the session. US gold futures fell 0.7 percent to $1,836.20.
Spot silver dropped 0.4 percent to $21.45 per ounce, its lowest level since May 19.
Platinum gained 0.3 percent to $967.15, while palladium firmed 0.1 percent to $2,001.88.
Chicago wheat futures rose on Wednesday, after a government report showed US spring wheat planting remains slow.
US wheat fell in the previous session on improved prospects of grains exports from the Black Sea region.
Corn ticked lower, while soybeans edged up.
The most-active wheat contract on the Chicago Board of Trade rose 0.76 percent to $10.95 for three-quarters a bushel.
Corn gave up 0.2 percent to $7.52 a bushel and soybeans rose 0.39 percent to $16.89-3/4 a bushel.
London copper prices were flat on Wednesday after a 1 percent drop in the previous session on a stronger US dollar and economic slowdown woes, although Shanghai emerging from a two-month-long lockdown lifted hopes of a revival in demand.
Three-month copper on the London Metal Exchange held its ground at $9,458 a ton by 0235 GMT, while the most-traded July copper contract in Shanghai was down 0.7 percent at $10,718.51 a ton.
(With input from Reuters)