Gold Price Slips Ahead Of FOMC Minutes Release

New York (Oct 11)  Gold prices have dipped to their daily lows in late-morning action Wednesday. There are some concerns that the afternoon release of the Federal Reserve's Open Market Committee (FOMC) minutes could strike a hawkish tone on U.S. monetary policy, which in turn would be bearish for the precious metals markets. December gold was last down $3.90 an ounce at $1,289.90.

By 12:50pm EST spot gold price is down nearly $2 on the day at $1,285, while spot silver is basically flat at $17.09. However, spot palladium has soared $18 to $958. 

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