by Christopher Freeburn | February 19, 2014 4:35 pm
After rising for nine straight sessions, gold fell back slightly in Wednesday trading ahead of the release of the minutes from the Federal Reserve’s January meeting.
The minutes, released Wednesday afternoon, showed disagreement among Fed officials about interest rates, the pace of stimulus tapering and the strength of the U.S. economy. Gold fell further in after-hours trading after the minutes’ release. U.S. stock markets also closed lower.
Gold futures for April delivery slipped 0.3% to $1,320.40 per ounce on Wednesday, according to CME Group. Gold traded as high as $1,323 and as low as $1,314. Bullion closed in London at $1,314, according to BullionVault.
Silver futures for March delivery dipped o.2% to $21.85 per ounce. Wednesday’s high for silver was $21.96, while the low was $21.62.
Metal funds sank on Wednesday.
Mining ETFs declined during the day.
Gold stocks pulled back on Wednesday.
Silver mining shares retreated during the day.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.
Source URL: http://investorplace.com/2014/02/gold-rally-finally-stalls/
Short URL: http://invstplc.com/MBfp7w