Gold prices fell on Wednesday to continue losses for the second day in a row, due to the slowdown in investment demand for safe assets, and restrain losses, the dollar fell against a basket of currencies, ahead of the minutes of the last meeting of the Federal Reserve.

Gold prices fell by more than 0.3% as of 11:25 GMT to trade at $ 1,280.70 an ounce from the opening level of $ 1,284.86 and recorded a high of $ 1,287.13 and a low of $ 1,280.14.

Yesterday, gold prices lost 0.3%, the second loss in three days, on correction and profit taking from the highest level in seven months at $ 1,298.54 an ounce, and under the pressure of the decline of the dollar against a basket of currencies.

Safe assets, led by precious metals, are currently facing negative pressure as investment demand slows, as risk appetite improves in various financial markets, with significant progress in US-China trade commissioners.

The dollar index fell more than 0.2% on Wednesday, resuming its losses, which were temporarily suspended yesterday as part of a 3-month low of 95.18 points, reversing the greenback against a basket of currencies, which restrains the losses of gold and other metals denominated in US dollars .

The fall of USD comes ahead of the minutes of the last meeting of the Federal Reserve, which took place on 18-19 December last, which resulted in raising US interest rates for the fourth time in 2018, the record is issued by 19:00 GMT, and provides strong evidence about The pace of raising interest rates during the current year.

Gold holdings in the SPDR Gold Trust Fund The largest gold-backed global index funds fell yesterday by 0.25 metric tons, the second consecutive daily decline, bringing the total to 796.53 metric tons.