Gold Steady Above $1180 after Fed Minutes

Gold prices whipsawed after policy-makers decided to keep its wording on the timing of any interest rate hikes out of concern that a change could be misinterpreted by financial markets.

Spot gold was last down 0.6 percent at $1,191 an ounce, after hitting a high of $1,202.30 earlier. U.S. gold futures for December delivery settled $3.20 lower at $1,193.90 an ounce.

Minutes of the Fed’s Oct. 28-29 meeting show that Fed officials renewed a debate from their September meeting about whether they should alter language they have used since the spring that they expected to keep a key short-term interest rate low for a “considerable time” after halting monthly bond purchases.

CNBC

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