Gold climbs back from a nearly 7-week low after FOMC minutes
San Francisco (Feb 18) Gold futures settled at their lowest level in nearly 7 weeks on Wednesday, but climbed back up after the release of minutes from the January Federal Reserve meeting. The minutes showed that Fed officials weren’t in any rush to hike interest rates.
April gold GCJ5, +0.21% traded at $1,209.90 an ounce in electronic trading on Globex, after settling at $1,200.20 on Comex, down $8.40, or 0.7%, before the release of the minutes.
Spot platimum was flat at $1,175, while palladium churned at $781 on low volume.