Gold Falls as Dollar Strengthens Ahead of Fed Minutes

Gold prices fell during Wednesday trading as the U.S. dollar strengthened, while investors awaited minutes from the Federal Reserve’s September meeting for clues about the path of interest rates. Market reports recorded intraday spot prices between about $4,126 and $4,130 an ounce, but the supplied data do not establish a verified closing spot price. The dollar index rose about 0.3% to 0.4% during the session, according to market reports. A stronger dollar can make gold, which is priced in dollars, more expensive for buyers using other currencies. Reports also pointed to interest-rate expectations as a factor in market sentiment: gold pays no interest, so higher rates can make yield-bearing assets more attractive by comparison. The reports do not establish how much either factor caused the decline. The Federal Reserve’s September meeting minutes were scheduled for release later Wednesday, October 7. Investors were watching for indications of policymakers’ views on further rate increases.