Front-month gold futures settle down 0.4% to $2,919.40 an ounce. It makes it four sessions out of the past six that front-month gold finishes lower.
But gold did start the day on the rise, fueled by the continued demand for gold as a safe haven asset to hedge against volatile markets, says Robert Yawger of Mizuho Securities USA in a note.
Today’s Fed minutes also appear to give gold support, with the Fed uncertain as to what the economic environment will look like in terms of inflation going forward.
SPDR Gold erase earlier losses to trade flat.