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Gold Moves Higher After Fed Minutes

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Now the focus is on the Jackson Hole symposium and the next NFPs” — Paul Ebeling

Gold turned positive after the release of the Fed’s July FOMC policy meeting minutes Wednesday, although a firm USD limited any safe haven inflows into bullion in response to the spread of the Delta coronavirus variant.

Spot gold was up 0.1% at 1,786.76oz. US gold futures settled down 0.2% at $1,784.4 per ounce.

Elsewhere, silver fell 0.5% to 23.51oz, platinum rose 0.4% to 1,001, and palladium shed 2.7% to 2,422.85.

Concerns about the Delta variants spreading across the globe is obviously a little bit of a driver for gold,” said the head trader at US Global Investors.

Have a prosperous day, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.