Metals: Gold Down a Bit Ahead of Fed Minutes
February 21 2018 - 1:21PM
Dow Jones News
By Ira Iosebashvili
Gold prices edged lower Wednesday, as investors awaited the
release of minutes from the Federal Reserve's latest meeting.
Gold for April delivery was recently down 0.1% at $1,330.60 a
troy ounce on the Comex division of the New York Mercantile
Exchange.
The Fed on Wednesday will offer more details on their
policy-making committee's outlook for 2018 when it releases the
minutes of their Jan. 30-31 meeting later this afternoon.
Most investors believe the central bank will raise rates next
month. However, signals that the Fed may deliver more than the
expected three rate increases this year as a response to stronger
economic growth could hurt gold, which struggles to compete with
yield-bearing assets when borrowing costs rise.
In base metals, copper was recently up 0.6% at $3.2095 a
pound.
Write to Ira Iosebashvili at ira.iosebashvili@wsj.com
(END) Dow Jones Newswires
February 21, 2018 13:06 ET (18:06 GMT)
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