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(Kitco News) Gold prices are struggling with another commitment following the release of the July FOMC meeting minutes, Commerzbank says. “The gold price came under great pressure last night. In the evening, the price fell by around $ 70 to $ 1,925 per troy ounce, which means that it has returned all its profits since the beginning of the week, ‘writes Carsten Fritsch, analyst at Commerzbank. ‘At least half of the decline … in gold was due with the publication of the evening of the minutes of the FOMC meeting on 29 July. They did not include any indication of any severe control over yield curves. This will likely have asked some market participants who placed bets on this event to place their positions. “In response, the US dollar began to rise, weighing in on gold. In addition, some Fed officials are starting to sound more optimistic, which adds downward pressure.” St. Louis Fed President Bullard yesterday made more optimistic remarks about the economic outlook in the “Frear was considered a particularly damp member of the FOMC,” Bullard’s remarks carry some more weight, “Fritsch added.
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