Gold settles higher, then continues to climb after FOMC minutes
Gold settled higher on Wednesday, as a benchmark dollar index dropped to a three-month low. Prices for the precious metal then extended gains into electronic trading shortly after minutes from the Federal Open Market Committee’s December meeting revealed that some Federal Reserve members wanted to hold policy steady in December. The news put even more pressure on the dollar. February gold traded at $1,293 an ounce, after settling on Comex at $1,292, up $6.10, or 0.5% for the session. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.