Gold futures drop as Fed leaves door open to rate hike in June

Gold futures settled lower Wednesday, then fell further after minutes from the U.S. Federal Reserve’s April meeting showed that officials from the central bank were ready to raise interest rates in June if economic data warrant.

June gold GCM6, -1.28% settled at $1,274.40 an ounce, down $2.50, or 0.2%, from Tuesday’s finish. In electronic trading after the FOMC minutes, prices fell to lows under $1,265 an ounce.

“Most participants judged that if incoming data were consistent with economic growth picking up in the second quarter…then it likely would be appropriate for the Committee to increase the target range for the federal funds rate in June,” the minutes read.

For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my