WASHINGTON (dpa-AFX) - Gold futures settled lower on Wednesday as the dollar stayed somewhat firm amid uncertainty about the outlook for interest rates.
The dollar index climbed to 104.93 in early New York session before paring some gains. The index was up fairly well above the flat line, at 104.80 a little while ago.
Gold futures for May ended lower by $32.50 or about 1.34% at $2,389.20 an ounce.
Silver futures for May settled down by $0.573 or about 1.8% at $31.295 an ounce, while Copper futures dropped to $4.8440 per pound, down $0.2620 or about 5.2%.
In economic news today, data from the National Association of Realtors showed existing home sales in the U.S. unexpectedly saw further downside in the month of April, slumping by 1.9% to an annual rate of 4.14 million in April after tumbling by 3.7% to a revised rate of 4.22 million in March.
Economists had expected existing home sales to rise by 0.5% to an annual rate of 4.21 million from the 4.19 million originally reported for the previous month.
The minutes from the Federal Reserve's latest meeting, released a while ago, show officials grew more concerned about inflation, with members indicating that they lacked the confidence to move forward on interest rate reductions.
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