Gold Settles Lower as USD Strengthens

Gold prices declined on Wednesday and settled lower after two consecutive rises due to the US Dollar recovering from some of its recent losses against major currencies, supported by the release of the Federal Reserve latest meeting minutes.

Gold futures for December delivery closed lower by $42.80, or 2.1%, at $1,970.30 per ounce, going once again below the $2,000 level.

Meanwhile, silver futures for September delivery dropped by 2.6% and finished at $27.340 per ounce.