Gold prices were rangebound on Wednesday, finally settling 60 US cents higher at $US1,684.30 an ounce.
It edged a touch higher in after-hours trading when the minutes of the last Fed meeting were released that showed growing concern about the impact COVID-19 was having on US economic activity.
Just after 6 am Sydney time it was in the red, down around $US1,679 an ounce.
That meeting was held after the Fed chopped its key interest rate back to the record low of zero percent to 0.25% in early March.
The US dollar was a touch weaker and US bond yields were mixed to slightly firmer as fears continued to ease about the impact of COVID-19. That’s despite another record death toll for the US and especially New York.
Comex May silver settled 27.5 cents, or 1.8%, lower at $US15.205 an ounce.
Gold remains more than 2% higher for the week, and on Tuesday topped $US1,700 an ounce to trade at its highest intraday level since late 2012.
Comex May copper shed 0.6% to $US2.26 a pound.
Meanwhile, iron ore prices edged higher to close at $US83.64, a rise of 1% or 91 US cents for the standard 62% Fe fines delivered to northern China.
