Gold Rises to $1,373.90 as Investors Await Fed Meeting Minutes

Gold bounced back Aug. 20 from a drop the day prior. According to The Wall Street Journal, futures for December delivery rose $4.20, or 0.3 percent, to $1,369.90 an ounce on the COMEX in New York. Later in the session, the precious metal for December gained $8 to hit $1,373.90 an ounce, MarketWatch reported.

The U.S. dollar fell today as investors anxiously await the minutes from the Federal Reserve’s meeting, which are expected to be released Aug. 21. A declining dollar makes gold more affordable to foreign buyers.

A more positive outlook on gold demand from Asia also helped boost the commodity today.