Gold futures were slightly lower Friday as the Federal Reserve issued its monetary policy report to Congress.
The Fed hinted that it plans three rate hikes in 2018, in line with its previous projections.
“The federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run,” the Fed said, suggesting a more gradual rate of rate hikes.
April gold was down $2.40, or 0.2%, to settle at $1,330.30/oz. Gold has lost some of its safe haven appeal as stocks rebounded from steep losses earlier this month.