Gold gains moderately in Asia as Fed minutes eyed
On Wednesday, gold managed to gain modestly during Asia trade with Fed minutes from the September gathering on tap later in the day to set the overall tone.
In New York, December delivery gold futures added 0.09%, reaching $1,257.00 per troy ounce. Meanwhile, December delivery silver futures gained up to 0.25%, being worth $17.553 per troy ounce. As for copper futures they were intact at $2.187 a pound.
Market participants will be turning their attention to Wednesday’s minutes of the Fed’s September policy gathering for fresh hints as for the timing of the next American rate hike.
The timing of a Fed rate lift has been a constant source of debate in the financial for recent months.
Overnight, gold prices were mostly higher, though struggled to move away from the previous week's four-month minimums amid indications the Fed’s all gearing up to raise interest rates in the nearer months.
On Friday, gold prices tumbled to $1,243.20, a value, which hasn’t been observed since June 7, as a weaker-than-expected American jobs report didn’t turn to be enough to derail hopes for a rate hike from the Fed before the end of 2016.