Gold extends gains ahead of Fed minutes

December gold futures rose 1.2% to $4,115.6 an ounce.

Gold prices extended their gains on Wednesday as investors awaited the release of the Federal Reserve’s latest meeting minutes and key US data that could offer clues on the future path of monetary policy.

December gold futures rose 1.2%, or $48.6, to $4,115.6 an ounce.

Spot gold added 1.11% to $4,113.34 an ounce, while spot silver gained about 3.15% to $52.28 an ounce.

The US dollar index, which measures the greenback against six major currencies, climbed 0.2% to 99.74 at 1:37 p.m. Makkah time.

December silver futures advanced 3% to $52.05 an ounce. Spot platinum rose nearly 2% to $1,565.7, while spot palladium increased 2.25% to $1,431.9.

Investors are awaiting the minutes of the Fed’s October meeting, due later today, as well as the September US nonfarm payrolls report, which will be released on Thursday.