Gold eases as markets await Fed minutes for direction

Gold prices eased on Tuesday, trading below a ‌two-week high, with investors awaiting the US Federal Reserve’s June meeting minutes for insight into new Chair Kevin Warsh’s monetary policy direction. Spot gold fell 0.6% to $4,138.32 per ounce by 0232 GMT, while U.S. gold futures for ​August delivery eased 0.4% to $4,149.90. “Gold price action looks like a little bit of ​a continuation of last week, some basing out, forming a support level, ⁠obviously waiting for a little bit of direction from the Fed minutes to get a ​bit more sense around what the Fed’s thinking is on the short term interest rate policy,” ​said Nicholas Frappell, global head of institutional markets at ABC Refinery.