Gold futures declined Wednesday to mark a third session loss in a row. Gold is currently “bearish,” with prices trading below the 50-day moving average of $1,866.30, said Chintan Karnani, director of research at Insignia Consultants. Minutes from the Federal Open Market Committee’s Jan. 31 to Feb. 1 policy meeting will be released shortly. The minutes are “relevant” in terms of hints on the pace of interest-rate hikes or a possible ending or pause in the rate increases, said Karnani. Gold has fallen due to an expectation of a rising interest rate trend until June or July, he said. Gold for April delivery GCJ23, -0.40% fell $1, or 0.05%, to settle at $1,841.50 an ounce on Comex.
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