-
Gold drops on strong U.S. data in run-up to Fed minutes
Gold prices slipped on Wednesday as robust U.S. economic data lifted the dollar and Treasury yields ahead of minutes from the Federal Reserve’s November meeting that could provide cues on interest rate hikes. Spot gold fell 0.4% to $1,782.58 per ounce by 09:29 a.m. ET (1429 GMT), while U.S. gold futures were down 0.1% at $1,782.00. Gold slid below the key $1,800 mark earlier this week as the re-nomination of Fed Chair Jerome Powell bolstered bets of faster monetary policy tightening, boosting the dollar and in turn making bullion more expensive for overseas buyers. Piling pressure on Wednesday was a drop in U.S. ... (full story)