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Gold Subdued After Recent Rally

Gold prices fell slightly on Friday as minutes from the Federal Reserve’s last meeting revived expectations for a possible U.S. rate hike this year.

Investors also keep an eye on U.S. -China trade talks, with U.S. President Donald Trump scheduled to meet with Chinese Vice Premier Liu He in the White House today, with the goal of reaching a trade deal ahead of a March 1 deadline.

Spot gold edged down 0.1 percent to $1,322.82 per ounce while U.S. gold futures were down 0.2 percent at $1,325.15 per ounce. With the risk factors mounting, the metal is heading for a second straight weekly rise.

The dollar held steady as optimism over U.S.-China trade negotiations and growing hopes of soft orderly Brexit helped investors shrug off weak U.S. data released overnight.

It appears gold traders are booking some profits after the precious metal hit a ten-month high of $1,346.73 on Wednesday.

The material has been provided by InstaForex Company – www.instaforex.com