Gold Prices End Lower as Dollar Stabilizes

Gold Prices eased as the dollar pulled away from lows and steadied, while world stock markets reached fresh highs, reversing some gains from the prior session when U.S. Federal Reserve meeting minutes indicated it is more cautious on pulling the trigger on another rate hike.

Spot gold ended ended down 0.2 percent at $1, 255.91 per ounce, while U.S. gold futures ended up 0.3 percent at $1, 256 .50.

Economists anticipate the gold's resilience to fluctuate in the following weeks, citing hints in the Fed minutes that further monetary policy tightening is on the table as early as June.

Minutes of the May policy meeting showed policymakers generally agreed that they should postpone raising rates until it is sure that a recent U.S. economic slump is only transitory. Despite the cautious tone, majority of the rate-setting committee said a hike is coming soon.

Federal fund futures indicated traders are pricing in an 83 percent odds of a quarter percentage point rate hike during the Fed's june meeting.

Bets for U.S. interest rates to increase next month and possibly rise once more in the year have helped kept gold prices under $1,300.

News are provided by InstaForex