Gold Falls to $1,301.05 an Ounce on Stronger Dollar

Gold fell 0.5 percent or $6.50 to $1,301.05 per ounce on Wednesday, according to Reuters. The news source reported that a weak  investment appetite for the metal contributed to the drop, as did the rising dollar and anticipation of the U.S. Federal Reserve March meeting minutes, due out today.

“We’re still struggling with the upside in thin trading amid a lack of physical buying or any significant investor interest,” Andrey Kryuchenkov, an analyst at VTB Capital, told Reuters.

U.S. gold futures for June delivery were down $7.40 an ounce to $1,301.70.