Gold Steady Around $1210 Before Fed Minutes

Gold held a drop from the highest level in seven weeks as the dollar strengthened before the Federal Reserve publishes minutes of its March meeting.

Bullion for immediate delivery traded at $1,210.56 an ounce at 9:16 a.m. in Singapore from $1,209.22 on Tuesday, when prices climbed to $1,225, the highest since Feb. 17, according to Bloomberg generic pricing. Gold in Shanghai retreated.

Gold dropped for three straight quarters as an improving economy boosted speculation the Fed will raise interest rates for the first time since 2006. The minutes from policy makers’ latest meeting may provide more clarity on their thinking, after officials removed a commitment to being “patient” on borrowing costs. The Bloomberg Dollar Spot Index held a two-day gain after U.S. job openings rose in February.


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