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Gold holds near three-month high before Fed minutes

Publish Date22/08/2012 02:16:51 PM

Last Update22/08/2012 02:21:54 PM

Gold holds near three-month high before Fed minutes

Gold hovered around a three-month high on Wednesday, paring some of the morning gains as the dollar firmed while the euro was little changed as market focus shifts to the Federal Reserve`s key minutes for July meeting to be released later today.

Spot gold was up 0.14 percent at $1,641.33 an ounce at 11:11 a.m. EST, holding almost steady below its highest level in three months. Spot silver was up 0.28 percent at $29.47 an ounce. Spot platinum was up 1.02 percent at $1,521.13 an ounce.

Precious metals retained most of yesterday`s gain but traders remained cautious ahead of key meeting between Greek officials with Eurogroup Chief Jean-Claude Juncker. In the U.S, the Federal open Market Committee minutes will be out 02:00 a.m. EST.

The dollar Index, which tracks the greenback against a six-currency basket, was down from the session high of 82.11 to trade flat t 81.91, The euro was little changed flat as well at $1.2470, while the pound was up at $1.5797 from $1.5781.


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