Gold retreated on Wednesday as investors focused on the latest Federal Reserve (Fed) monetary policy minutes showing that its officials voted to keep rates unchanged at the January meeting.
At 9.15 am, gold was at $2,941.75, up 0.29% since it opened early Thursday in Asian trading.
The minutes showed Fed officials reassessing two risks, notably President Donald Trump’s aggressive trade policies and rising inflation away from target.
Recently, the yellow metal hit another all-time high of $2,946 after Trump announced he would impose 25% tariffs on imported automobiles, pharmaceuticals and chips.
However, it moved sideways amid the trade war scenario and fell immediately after the Fed’s FOMC minutes were released.
Market participants are now awaiting initial jobless claims figures and the S&P Global Flash PMI.
