A recap of gold moves on Wednesday via ANZ:

  • gold struggled to find a bid amid the weak economic backdrop
  • was under pressure from the opening of the session as the USD gained
  • pared some of those losses after Federal Reserve minutes showed little appetite for more aggressive rate hikes. Fed officials agreed the bank needed to tighten in half-point steps over the next couple of meetings.

More on the Fed minutes from Greg, here:

Gold update:

gold 26 May 2022