Gold Extends Losses After Settlement Following FOMC Minutes

By Markets MarketWatch Pulse

Gold futures settled lower Wednesday, pressured by strength in U.S. equities and the dollar. Prices in electronic trading lost more ground after minutes from the Federal Reserve’s April meeting showed that most of the interest-rate setting committee were ready to lift rates in June if the economy warrants it. Gold for June delivery settled at $1,274.40 an ounce Wednesday, down $2.50, or 0.2%, from Tuesday. It dropped to $1,267 in electronic trading shortly after the release of the Fed minutes.

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