Gold Steady Awaiting Minutes of The Fed
Gold prices stabilized, cutting back on earlier losses as the dollar dropped against other major currencies, but continuing in a slight range before the minutes of the U.S. Federal Reserve’s July meeting on Wednesday. News from the Fed is carefully watched for signs around the outlook for U.S. monetary policy, a key of changing gold prices, as rumor around mounts that the bank could taper its $85 billion monthly bond-buying program as early as September. Spot gold was at $1,366.14 an ounce at 1034 GMT, slightly changed from $1,365.48 late on Monday, whereas U.S. December gold futures delivery increased 50 cents at $1,366.20 an ounce. The dollar index dropped 0.3% and world shares also fell to their lowest in more than a month on Tuesday on hesitation ahead of the release of the Fed minutes on Wednesday. Peter Fertig, a consultant at Quantitative Commodity Research said “I don’t think the minutes will provide a clear signal about the September taper. If they could