(MENAFN- ProactiveInvestors) Gold futures settled lower today as investors scrutinized the minutes of the ’s April meeting released a day earlier digging for further clues of the timing of an interest-rate hike.
Gold for June delivery on Comex shed 0.4 percent to settle at $1204.10 an ounce.
The April minutes released after the close of open-outcry metals trade on Comex showed only a “few” Federal Open Market Committee officials thought economic data justified a rate hike in June.
In other metals July silver climbed by 0.1 percent to $17.132 an ounce.
July platinum fell 0.4 percent to $1152.30 an ounce while June palladium lost 0.1 percent to $776.10 an ounce.
July copper rose 0.7 percent to $2.8485 a pound.
In energy trading WTI crude oil rose about 3 percent today as a reported drawdown of stockpiles in the Cushing delivery point for U.S. crude futures boosted optimism that a supply glut was easing.
U.S. crude closed up $1.74 or 3 percent at $60.72 a barrel—its highest settle since May 13. Brent crude was up $1.20 at $66.20 after falling as low as $64.83 earlier.
Fighting in Iraq that raised worries about the security of Middle East crude shipments also boosted oil.
The dollar's retreat took some pressure off oil too.
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