Gold Market Update : Epic Research Singapore

Gold prices retreated Wednesday as traditional risk assets drew bidders a day after a global selloff in stocks and just ahead of minutes from the Federal Reserve’s most recent policy meeting.

June gold GCM6, +0.29%  finished down $5.80, or 0.5%, to $1,223.80 an ounce Wednesday, after Tuesday’s 0.8% gain snapped a two-day slide.

The SPDR Gold Trust GLD, -0.61% the largest gold ETF, was down 0.7%. The Market Vectors Gold Miners ETF GDX, +0.10%  was down 0.8%. There was a further pronounced outflow of 6.6 tons from the gold ETFs, the Commerzbank analysts noted.

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