Gold ticks higher as dollar weakens, central banks point to end of QE

MarketWatch/Mark DeCambre/07-06-17

Gold prices traded modestly higher Thursday as the dollar slumped and global equities took a turn lower amid signals that an era of easy-money policies adopted by central banks during the financial crisis may be nearing an end.

August gold rose $3.60, or 0.3%, at $1,225.10 an ounce, after settling higher Wednesday. In electronic trade on Wednesday, the metal briefly pulled back after the release of minutes from the Federal Reserve confirmed the central bank’s efforts to normalize U.S. monetary policy by lifting interest rates at least once more in 2017 and shrinking its $4.5 trillion balance sheet.

The Fed minutes, however, also pointed to divisions about the precise timing of those moves.

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