Gold Climbs Above $1320/oz Ahead Of US Federal Minutes – Holding onto 2014 Gains

by Reuters

LONDON: Gold prices firmed on Wednesday, climbing back above $1,320 an ounce, as fresh inflows into bullion-backed funds indicated rising investor confidence the metal ahead of the release of the latest Federal Reserve minutes.

The world’s largest gold exchange-traded fund, New York-listed SPDR Gold Shares, reported a second straight session of inflows on Tuesday, taking its holdings above 800 tonnes for the first time since mid-April.

The markets waited for the release of minutes of the Federal Reserve’s June meeting later in the day for clues on the outlook for Fed policy.

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