Gold eased on Wednesday, halting a three-day winning streak, after the Federal Reserve released the minutes from its mid-December meeting.
U.S. central bankers reviewed a broad set of data showing that the economic recovery in the United States was holding its own in a world that was turning in the wrong direction—with recession threatening in Japan and Europe and a slowdown in major emerging markets, according to the minutes.
But with inflation still low, and the economic outlook for the euro zone and Japan darkening, the Fed struggled for how best to square the circle—acknowledging improvement in the United States while not committing to any particular timetable for raising rates.
Spot gold fell 0.4 percent to $1,213 an ounce, after jumping to its highest since Dec. 15 at $1,222.40 in the previous session, due to tumbling equity markets.
U.S. gold futures for delivery in February settled $8.70 lower at $1,210.70 an ounce.