Gold Hovers Near 10-month Peak Amid Steady Dollar After Fed Minutes

Gold prices were firm near a 10-month peak on Thursday, with the dollar holding steady in the wake of minutes from the latest U.S. Federal Reserve meeting that rekindled expectations of a possible rate hike later in the year.

Spot gold had gained 0.1 percent to $1,339.99 per ounce by 0054 GMT, having touched $1,346.73 per ounce in the previous session, its highest level since April 20.

U.S. gold futures were down 0.4 percent at $1,342.5 per ounce.

The dollar index against a basket of six major currencies stood little changed at 96.500.

Minutes from the Fed’s Jan. 29-30 meeting indicated on Wednesday that policymakers may not yet have ended their three-year campaign to raise interest rates, but merely put it on an extended pause.

U.S. President Donald Trump and North Korean leader Kim Jong Un will hold their second summit in the Vietnamese capital of Hanoi on Feb. 27-28.

Trump on Wednesday said the United States would impose tariffs on European car imports if it cannot reach a trade deal with the European Union.

British Prime Minister Theresa May held “constructive” talks in Brussels on Wednesday as she sought concessions on Brexit from a sceptical European Union, her strategy under strain after the defection of three lawmakers.

Soros gets out of gold, Paulson & Co cuts SPDR Gold shares

Turkey will issue gold-backed bond and sukuk to corporate investors with a settlement date of Feb. 27, the treasury said on Wednesday.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings rose 0.26 percent to 794.50 tonnes on Wednesday from 792.45 tonnes on Tuesday.

SPDR Gold Holdings Have Fallen over 1 percent for the Week – Gold Silver Reports

Canadian miner Barrick Gold outlined on Wednesday details of a deal it reached with the government of Tanzania to settle its disputes with Acacia Mining, including a $300 million payment to resolve tax claims in the country.

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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