21.02.201808:05:00UTC+00Gold Flat After Yesterday's Drubbing

Gold futures were flat Wednesday morning after the biggest one-day drop since December 2016.

Gold has come under pressure due to a stronger U.S. dollar that has rallied against major rivals this week.

The buck has rebounded amid speculation the Federal Reserve will raise interest rates in March and signal two or three additional rate hikes for the rest of the year.

The Fed releases minutes of its Jan. 30-31 meeting later today as investors look for further insight on inflation and interest rates under new chairman Jerome Powell.

Gold was down $1 at $1331 an ounce.