Gold falls below $1,300 ahead of FOMC minutes

FXStreet (Córdoba) - The yellow metal backed away from the $1,300 area and consolidates near 2-week lows as some optimism in financial markets put the safe-haven under pressure on Tuesday.

Solid US data and easing geopolitical concerns put a cap on gold and send the price to a low of $1294 Tuesday with the metal still on the defensive as investors await FOMC minutes and keep an eye on Jackson Hole.

Gold for December delivery was down 0.12% at $1,295 an ounce. As for silver, the gray metal managed to advance 0.2% to 19.52 an ounce.