Gold slips 0.3% to $4,150.23 ahead of Fed minutes
Gold prices slipped a bit on Wednesday, with everyone watching the US Federal Reserve for hints about possible interest rate hikes.
Spot gold dropped 0.3% to $4,150.23 per ounce, while US gold futures also edged down.
The dip comes as investors look for clues in the Fed's September meeting minutes about where rates (and gold) might be headed.
LBMA delegates forecast $5,013 per ounce
Fed officials say they're still focused on fighting inflation, and future rate hikes depend on how things play out.
While an October hike looks less likely now, most traders expect another increase by December.
Meanwhile, delegates attending the London Bullion Market Association's annual conference in Sorrento, Italy, think gold could reach $5,013 an ounce over the next 12 months.
Analyst Frank Walbaum notes that if the Fed gives clear signals soon, gold prices might stay steady or slide just a little.