Metals Stocks: Gold churns ahead of potential Fed rate-hike clues

Gold prices churned little moved for a second straight day on Wednesday with investors reluctant to stick out their necks ahead of a highly anticipated afternoon Federal Reserve release.

April gold GCJ7, +0.02% slipped 70 cents, or less than 0.1%, to $1,238.10 an ounce. May silver SIK7, -0.11% traded down 4 cents, or 0.2%, at $18.04 an ounce.

Investors were awaiting the 2 p.m. Eastern release of the Fed’s minutes from its Jan. 31-Feb. 1 policy meeting to get more clarity about the central bank’s possible next move. Higher rates typically lead to a stronger dollar. That, in turn, usually provides a headwind to dollar-pegged assets including gold, making them less attractive to buyers using other monetary units.

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