Precious metals are depreciating in Thursday’s session, with gold depreciating 0.78% to $1,893.48 per ounce and silver down 1.24% to $27.8220.
The gold metal moves away from its nearly five-month high at a time when investors are assessing the latest comments from Fed officials to try to gauge when the central bank might begin phasing out economic stimulus.
This Wednesday the Fed’s Beige Book was released with updated estimates for the U.S. economy that confirm the recovery of the world’s largest economy and the rise in consumer prices, factors that contribute to the prospect of lifting the expansionary policies adopted by the Federal Reserve.
