Gold finishes down as major central banks’ verdicts loom

Gold prices ended in the red today, Nov. 20, as markets awaited the release of minutes of central bank meetings in major economies this week, seeking clues about the future path of interest rates.

Bullion for December delivery shed 0.20%, or $4.40, to finish at $1,980.30 per ounce, narrowing losses after touching $1,967.20 an ounce in early trading.

Likewise, the US dollar index, which measures the performance of the US currency against a basket of six major currencies, plunged by 0.45% to 103.44 points at 09:38 pm Makkah time.

Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, added 1.5% on Nov. 17.

All eyes are on the release of the Federal Reserve’s meeting minutes on Nov. 21, a day before the content of the latest Bank of England meeting is announced. Further, the European Central Bank (ECB) is scheduled to issue the minutes of its recent meeting on Nov. 23.