Gold prices retreat from record highs with Fed minutes on tap; copper falls [Yahoo! Finance]
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HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Yahoo! Finance
Losses extended into industrial metals, with copper prices pulling back further from recent record highs as a speculative frenzy in the red metal cooled ahead of more cues on physical supply and overall demand. A steady dollar also weighed on metal prices, while safe haven demand for gold cooled amid little signs of worsening geopolitical conditions in the Middle East, after the Iranian President was killed in a helicopter crash. Spot gold fell 0.2% to $2,415.61 an ounce, while gold futures expiring in June fell 0.3% to $2,418.75 an ounce by 00:23 ET (04:23 GMT). Spot prices still remained in sight of their recent peak of $2,450.06 an ounce. Gold hit by rate jitters as Fed minutes loom The minutes of the Fed's late-April meeting , which are due later on Wednesday, were now in focus for more cues from the central bank. The Fed had kept rates steady during the meeting, while Chair Jerome Powell still flagged the possibility of rate cuts in 2024. Traders will be waiting to see
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