
“Gold prices were pulling ahead in anticipation of Fed minutes on Wednesday, while base metals remained mixed.
Gold was up 0.4% at $2,032.4 a troy ounce. The precious metal has generally held above the $2,000 an ounce mark so far this week, with the market waiting for clues on the outlook for U.S. interest rates, ING analysts said in a research note.
The Fed is set to release the minutes of its recent meeting on Wednesday. “We believe Fed policy will remain key to the outlook for gold prices in the months ahead. Higher borrowing costs are typically negative for gold,” ING said. Aluminum was down 0.5% at $2,186 a ton, while copper was up 0.2% at $8,442.0 a ton.”
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