Gold prices slip as equities gain after Fed minutes

By Indiatimes10 days ago

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April 8: Gold prices slipped on Thursday as investors turned to riskier assets after the U.S. Federal Reserve's latest meeting minutes indicated continued policy support and cemented hopes of a quick economic turnaround.

FUNDAMENTALS

* Spot gold inched down 0.03% to $1,736.76 per ounce at 0149 GMT. U.S. Gold futures fell 0.3% to $1,736.50 per ounce.

* Officials at the Federal Reserve are concerned about the ongoing risks of the COVID-19 pandemic and are committed to supporting the economy until its recovery is more stable, according to minutes of the central bank's most recent policy meeting released on Wednesday.

* Asian equities were on track to mirror Wall Street's cautious gains, weighing on the metal's safe-haven allure.

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