Gold futures decline as dollar strengthens

Gold futures declined on Wednesday owing to fall in Chinese demand and a strengthening US dollar after minutes of the US Federal Reserve's last policy meeting showed the central bank began to lay groundwork for an eventual retreat from stimulus but no final decisions were taken. However, concerns over the ongoing conflict in Ukraine and sluggish global equity markets limited the losses. Gold futures for June delivery settled down $6.50 at $1,288.10 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold fell 0.2 percent at $1,290.84 an ounce.