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The price of gold dipped 0.2 percent on Wednesday morning to trade at $1,206.85 per ounce. The drop demonstrates investor confidence in the resolution of ongoing Greek debt talks.
The price of gold dipped 0.2 percent on Wednesday morning to trade at $1,206.85 per ounce, Reuters reported. The drop demonstrates investor confidence in the resolution of ongoing Greek debt talks. However, while investors will watch the news out of Greece closely, prices will also reflect the release of minutes from the Federal Reserve’s latest meeting.
Investors anticipate that the Fed will raise interest rates later this year, which would prompt a shift out of safe-haven commodities. The minutes from the meeting should illuminate what Ole Hansen, Saxo Bank’s head of commodity strategy, terms, “continued dislocation between where the market and where the FOMC have indicted rates will go.”
