Gold futures pulled back on Thursday, ahead of the release of minutes of the Federal Reserve’s policy setting meeting on July 30-31 meeting which could provide further clues on the direction of monetary policy.

Gold for December delivery

GCZ19, -0.19%

 was off $3.60, or 0.2%, at $1,512.10 an ounce, after gaining 0.3% on Tuesday; while September silver

SIU19, -0.45%

 shed 10.8 cents, or 0.6%, to trade at $17.04 an ounce, following a 1.2% jump in the previous session.

The Fed will publish the minutes of the July at 2 p.m. Eastern Time, a half hour after gold futures settle for the session. Investors are hoping for clues on how split the members of the Federal Open Market Committee were on last month’s decision to lower rates by a quarter percentage point, the first such move in more than decade. The minutes also come ahead of the Thursday start to the Fed’s annual symposium of central bankers in Jackson Hole, Wyo., which would could affirm market-based expectations for a rate cut at the end of the Fed’s next two-day policy meeting on Sept. 17-18.

“Expectations to this point seemed to be leaning dovish, which may be difficult for policy makers to live up to,” analysts at Zaner Metals wrote in a daily note.

Metals have benefited from their perception as safe haven assets, gaining altitude amid a flurry of worries about the health of the economy inside and outside of the U.S.

Technical analysts are anticipating that precious metals will retain their bullish tilt, despite edging lower Wednesday.

“The main trend remains bullish, with further rallies that seems likely in the medium term, while in the short term the scenario is lateral, with prices that could draw a lateral range between $1,475 and $1,530,” wrote Carlo Alberto De Casa, chief analyst at brokerage ActivTrades, in a Wednesday research note.

He said, however, that any moves “below or above these thresholds could trigger of a new directional movement.”

Among other metals traded on Comex, September copper

HGU19, +0.14%

 was little changed at $2.58 a pound, after shedding 0.9% on Wednesday. October platinum

PLV19, +0.67%

 tacked on $5.30, or 0.6%, to $858.10 an ounce, while September palladium

PAU19, -0.83%

shed $9.40, or 0.6%, to $1,480.30, easing back after a 1% gain on Tuesday.

The SPDR Gold Shares exchange-traded fund

GLD, -0.29%,

traded down 0.3%, contributing to a 0.7% loss so far this week, while the iShares Silver Trust

SLV, -0.28%

 lost 0.4% in Tuesday dealings to trade 0.2% lower week to date.

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