Gold steady after release of Fed meeting minutes

Gold prices stabilized on Thursday as investors assessed the minutes of the Federal Reserve’s May meeting, which pointed to rising risks of inflation and recession, strengthening gold’s appeal as a safe haven amid continued volatility in the global economic environment.

Spot gold settled at $3,299.95 per ounce.

U.S. gold futures fell 0.2% to $3,294.90.

Gold, which rises with lower interest rates and is considered a safe haven in times of uncertainty, has gained 26% since the beginning of the year and reached a record high in April.

Among other precious metals, spot silver fell 0.9% to $32.99 per ounce, platinum rose 0.1% to $1,081.09, and palladium fell 1.2% to $967.10.