Gold edged lower on Wednesday near a two-week low, as a stronger dollar and signs of easing friction between the USA and China dented demand.

Gold is now more than 5% below its late-February 2019 peak of $1,346 per ounce.

Meanwhile, investors now await the release of U.S. Federal Reserve's minutes at 1900 BST, which is expected to provide insights into the May 1 meeting by the central bank, when policymakers kept interest rates steady.

On Monday, Fed Chair Jerome Powell reiterated his unmoved stance stating it was premature to ascertain the impact of trade tariffs on monetary policy

Where are commodity prices heading next?  Watch Phil Carr at The Gold & Silver Club review Gold with the latest price forecast and predictions:

 

 

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GBP/USD treads water near 1.3800 after mixed UK data

GBP/USD came under bearish pressure in the early European session after the data from the UK showed an unexpected contraction in September Retail Sales. However, the British pound managed to pare its losses with the Markit PMI figures surpassing analysts' estimates.

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