Gold prices eased off multi-week highs on Thursday as minutes from the Federal Reserve's last policy meeting raised expectations for a faster pace of U.S. rate hikes.
Spot gold was down 0.1 percent at $1,351.48 an ounce as of 0111 GMT and U.S. gold futures fell 0.4 percent to $1,355 an ounce.
on Wednesday rose to $1,365.23 per ounce, its highest since Jan. 25,
buoyed by escalating tensions in Syria, U.S. sanctions on Russia and the
U.S.-China trade spat.
U.S. President Donald Trump warned Russia
on Wednesday of imminent military action in Syria over a suspected
poison gas attack, declaring that missiles "will be coming" and
lambasting Moscow for standing by Syrian President Bashar al-Assad.
has surged 6 percent this week on the back of concerns that supply from
number one producer Russia could be hurt by sanctions imposed by the
All of the Federal Reserve's policymakers felt that
the U.S. economy would firm further and that inflation would rise in
the coming months, minutes of the central bank's last policy meeting on
March 20-21 released on Wednesday showed.
The U.S. Federal Reserve
is worried about trade tensions with China, but newly released details
on policymakers' views suggest those concerns have not translated into
concerns about the overall economy.
U.S. consumer prices fell for
the first time in 10 months in March, weighed down by a decline in the
cost of gasoline, but underlying inflation continued to firm amid rising
prices for healthcare and rental accommodation.
Monetary Fund is optimistic on the outlook for global growth but warned
darker clouds are looming due to fading fiscal stimulus and rising
South African miner Gold Fields will complete
preparatory work in 2019 at its Salares Norte project in northern Chile
and is eyeing potential output of around 345,000 ounces of gold a year
at the site by the early 2020s, a company executive said.
anti-graft agency has arrested two former prime ministers as part of an
investigation into suspected misuse of power by officials during two
rounds of negotiations involving a big copper-gold mine, it said on