FOMC Meeting Minutes May Influence Gold Wednesday - HSBC

Washington (Apr 9)   The minutes of the March Federal Open Market Committee meeting may give gold short-term direction when they are released Wednesday, says HSBC. The FOMC statement, released immediately after the meeting last month, showed the Federal Reserve changed its forward guidance regarding interest rate decisions, saying it expected rates to rise in 2015. “That said, FOMC meeting minutes that (are) perceived to be dovish for monetary policy would provide a boost for bullion while a hawkish view would be a drag on prices, in our view,” HSBC said.