Gold futures closed lower on Wednesday and then extended losses in electronic trading after the minutes from the Federal Reserve’s March policy meeting indicated some policy makers were more willing than anticipated to hike interest rates as early as June.Gold for June delivery GCM5, -0.42% fell $7.50, or 0.6%, to settle $1,203.10 an ounce but dropped further to $1,197.60 an ounce once the minutes were published.
May silver SIK5, -0.54% lost 39 cents, or 2.3%, to $16.45 an ounce.
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