Asia Reaction To FOMC Minutes Pressures Bullion

The bullish price action in the USD witnessed during Asia-Pac hours (which resulted in the DXY printing at the firmest levels witnessed since Nov '20) weighed on bullion, with regional participants focusing on the passage in the FOMC's July meeting minutes which pointed to most of the U.S. Fed being of the opinion that a tapering move will come later in '21. Still, spot gold continues to stick to familiar territory, after last week's sell off and subsequent recovery rejigged the downside technical parameters. Spot last deals $8/oz or so softer around $1,780/oz, a little off worst levels of the session.