Gold holds steady amid caution ahead of Fed minutes

Gold prices remained stable on Wednesday with the release of the U.S. Federal Reserve’s latest monetary policy meeting minutes and other economic data yet to be announced, while a firmer dollar stifled price changes. Investors are awaiting the Fed’s June 13-14 FOMC meeting minutes when the central bank held rates steady at 5%-5.25% and indicated the need to make at least two more quarter-point interest rate hikes before the end of the year. Although non-yielding gold is viewed as a safe haven amidst economic uncertainties, high interest rates discourage investing in it.