Gold was stuck below $1,300 on Tuesday, trading near a 3-1/2 week trough as investors fret over the timing of the U.S. Federal Reserves stimulus tapering and as physical demand was not strong enough to provide a floor to prices. Spot gold ease 0.1 percent to $1,281.56 an ounce by 0026 GMT. It has been trading below $1,300 since Friday and has fallen about 3 percent in the last four sessions. Prices have been under pressure since last Thursday as strong data on U.S. economic and jobs growth increased fears of an early end to the Feds stimulus measures. Golds drop below $1,300 has failed to attract demand in Asia as buyers waiting on the sidelines expect prices to weaken further. -Reuters
Posted on: Tue, 12 Nov 2013 01:25:23 +0000
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