Gold Books Loss As Appetite For Risk Returns Ahead Of Fed Minutes

By Mark DeCambreMarketWatch Pulse

Gold prices retreated Wednesday as traditional risk assets drew bidders a day after a global selloff in stocks and just ahead of minutes from the Federal Reserve's most recent policy meeting. June gold finished down $5.80, or 0.5%, to $1,223.80 an ounce. A rally in crude futures , which was soaring Wednesday aided by a surprise decline in inventories, helped earlier gains in stocks and undercut demand for haven assets. Financial markets are awaiting the release of minutes, due at 2 p.m. Eastern, from the Fed's March meeting which could provide hints on the timing and pace of interest-rate hikes. However, the release of the minutes occur half an hour after gold closes on Comex.

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