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Federal Reserve (U.S. central bank) Minutes Keep Gold, Silver Steady as U.S. Dollar Index (measure of dollar strength) Edges Higher

Spot gold slipped $8 to $4,427 per ounce as the U.S. Dollar Index rose modestly to 98.81 following new U.S. trade balance data.

Summary

Spot gold fell $8 to $4,427 per ounce while the U.S. Dollar Index increased by 8 points to 98.81 after the release of U.S. trade balance figures. The movement followed earlier Federal Reserve minutes that had kept gold and silver prices largely steady.

Terms & Concepts
  • Federal Reserve minutes: Record of discussions from the Federal Reserve (U.S. central bank) policy meeting.
  • U.S. Dollar Index: An index tracking the U.S. dollar’s value versus a basket of major currencies.
  • Spot gold: The current price for immediate settlement of physical gold.