Anticipation of Fed Minutes Pushes Gold Down to $1,362.60 an Ounce

Precious Metals

Gold sunk Aug. 21 as investors anticipate the results of the Federal Reserve’s recent policy meeting.

Gold sunk Aug. 21 as investors anticipate the results of the Federal Reserve’s recent policy meeting. The central bank will be releasing the meeting minutes at 2 p.m. Eastern time today, after gold trading closes in New York.

Gold for December delivery on the Comex dropped $10, or 0.7 percent, to $1,362.60 an ounce, The Wall Street Journal reported. Later in the session, it fell $9.70 to $1,363 an ounce, according to MarketWatch.

These declines come after a large advance the day prior, when prices reached a two-month high of $1,372.60.

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