Ella 
Gold prices (XAU/USD) extended their losses on Wednesday. Gold’s further upside may be limited as the Fed minutes were interpreted as more hawkish than previously released minutes. The Federal Reserve’s cautious approach to maintaining its restrictive policies for longer has generally boosted the dollar and put some selling pressure on gold prices.
Gold traders will be keeping a close eye on preliminary U.S. manufacturing and services Purchasing Managers’ Index (PMI) readings for May, which if weak could raise the prospect of a rate cut from the Federal Reserve, supporting gold. Additionally, geopolitical tensions, uncertainty, and stubborn inflation are likely to support the precious metal and prevent gold price downside in the near term. In addition, the Chicago Fed National Activity Index, weekly jobless claims, new home sales and Fed Bostic will also be in focus.
