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

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.