RIYADH: Gold prices inched lower on Thursday as the US dollar firmed after minutes of the Federal Reserve’s March meeting indicated an aggressive stance to combat inflation, denting the safe-haven metal’s appeal.
Spot gold was down 0.2 percent at $1,922.08 per ounce by 0125 GMT.
US gold futures rose 0.2 percent to $1,926.10.
Silver, platinum also lower
Spot silver edged 0.2 percent lower to $24.38 per ounce.
Platinum shed 0.1 percent to $952.32 while palladium was up 0.5 percent at $2,208.87.
Grains firm
US grains futures rose in Asian trading on Thursday ahead of a weekly export sales report from the US Department of Agriculture, while traders kept a close watch on the Ukraine crisis that has disrupted global supplies.
The most-active wheat contract on the Chicago Board of Trade was up 0.2 percent at $10.43-1/4 a bushel, as of 0444 GMT, after initially swinging back and forth in a tight range.
CBOT soybeans climbed 0.3 percent to $16.23-3/4 a bushel, while corn added 0.1 percent to $7.57-1/4 a bushel.
Copper edges higher
London copper prices edged higher on Thursday, helped by a slight pullback in the dollar, while more sanctions on key producer Russia raised concerns over supply.
Three-month copper on the London Metal Exchange was up 0.1 percent at $10,314.50 a ton, as of 0209 GMT. The most-traded copper contract on the Shanghai Futures Exchange SCFcv1 eased 0.3 percent to $11,550.13 a ton.
Lean demand pushes steel down
China’s steel rebar and hot-rolled coils futures declined on Thursday, as downstream demand remained sluggish amid the recent outbreak of COVID-19, with falling iron ore prices also weighing on steel prices.
The most-traded steel rebar futures, used as construction material, on the Shanghai Futures Exchange for October delivery fell 1.2 percent to $796.03 a ton as of 0320 GMT.
(With inputs from Reuters)