Gold range-bound as attention turns to Fed minutes
Metal is steady, after hitting a one-week high in the previous session, as the dollar eases and markets await minutes from the Federal Reserve’s June policy meeting
Bengaluru — Gold prices traded in a narrow range on Thursday, after hitting a one-week high in the previous session, amid an easing dollar and as the markets awaited minutes from the US Federal Reserve’s June policy meeting later in the day. Spot gold held steady at $1,255.59/oz as of 4.35am GMT. The metal touched a one-week high at $1,261.10 in the previous session and gained more than $20 from Tuesday’s low of $1,237.32/oz, its weakest since December 12. US gold futures were up 0.3% at $1,256.70/oz. The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1% at 94.539. "There’s not much incentive to move the market, it is very quiet this morning after the July 4 holiday. I don’t expect too much movement until the Fed minutes," said Yuichi Ikemizu, Tokyo branch manager at ICBC Standard Bank. Investors are awaiting the outcome of a two-day US Federal Reserve policy meeting to be announced at 6pm GMT. In its June meeting the central bank had...
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