Gold Moves Higher Ahead of FOMC Minutes (GLD) (IAU)

Gold is back above $1,320 per ounce Wednesday ahead of FOMC Minutes from its June meeting, which are expected out in the afternoon session.

Market reports have inflows into SPDR Gold Trust (NYSE: GLD) for the second-straight session, bringing total holdings to abve 800 tonnes for the first time since the middle of last April.

On Tuesday, two Fed officials gave a relatively downbeat assessment of the pace of U.S. growth. Comments suggest that the Fed might hold off on further tapering of its gold-friendly easing policy.

Shares of the SPDR Gold Trust are up 0.4 percent.

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