Gold prices firm ahead of Fed minutes

Reuters | Published: August 16, 2017 07:50:06 | Updated: October 24, 2017 12:05:08

Gold prices firmed early on Wednesday as investors waiting for the release of minutes from the US Federal Reserve's last meeting in July for clues on the pace of potential interest rate hikes.

Spot gold was up 0.1 per cent at $1,272.47 per ounce by 0048 GMT, after falling for two straight days.

US gold futures for December delivery fell 0.13 per cent to $1,278.00 per ounce. 

The dollar edged lower in early Asian trading on Wednesday.

North Korean leader Kim Jong Un has delayed a decision on firing missiles towards Guam while he waits to see what the United States does, the North's state media reported on Tuesday as the United States said any dialogue was up to Kim.

It is perhaps fitting that the biggest annual gathering of central banking's great and good takes place at a fishing retreat: financial markets are angling for the slightest hint on where monetary policy is headed.    

The US economy is on track to expand at a 3.7 per cent annualised pace in the third quarter, according to Reuters.

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