Gold futures settled lower on Wednesday, then moved up in electronic trading following the release of minutes from the Federal Reserve’s March meeting. The minutes, released after the settlement for gold futures, suggested that the central bank may start its balance sheet reduction as soon as May and that “many” Fed officials wanted a 50 basis point interest-rate hike in March, but accepted a smaller 25 basis point hike because of the Ukraine war. June gold was at $1,930.70 an ounce in electronic trading following the release of the Fed minutes. The contract had declined by $4.40, or 0.2%, to settle at $1,923.10 an ounce on Comex.
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