London — Gold steadied on Wednesday after its biggest one-day slide in two-and-a-half months as investors awaited the minutes of the Federal Reserve’s latest policy meeting later for clues on the outlook for US interest rates. Fresh gains in the dollar, however, kept prices under pressure, holding the metal near a one-week low. Spot gold was at $1,328.80/oz at 10.30am GMT, little changed from late on Tuesday but off an earlier low of $1,325.20. US gold futures for April delivery were down 30c at $1,330.90/oz. "With both the dollar recovering and real yields staying as elevated as they are, that is creating some nervousness [in gold]," Saxo Bank’s head of commodity research, Ole Hansen, said. "Also, the FOMC [Federal open market committee] minutes raise some concerns — the market is more worried about an accelerated rate hiking cycle than any slowdown. The market will be looking to the minutes for further guidance." Gold slid 1.3% on Tuesday, the most on any day since December 7, as ...
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