Gold hits 7-month low on worries on fate of Fed's stimulus

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U.S. gold fell to a more than seven-month low of $1,554.3 earlier in the day, and recovered to $1,560.40.  (Reuters) U.S. gold fell to a more than seven-month low of $1,554.3 earlier in the day, and recovered to $1,560.40. (Reuters)
SummaryU.S. gold fell to a more than seven-month low of $1,554.3 earlier in the day, and recovered to $1,560.40.

environment should still be good for gold."

Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, slumped 1.57 percent from the previous session to 1,299.164 tonnes on Feb 20, the lowest in more than five months.

Spot silver fell 0.2 percent to $28.47 an ounce, having fallen to a six-month low of $28.26 in the previous session.

Anglo American Platinum (Amplats) said persistent labour unrest was jeopardising investment in South Africa and warned that talks with government and unions may not lead to a reduction in its planned job cuts.

Spot platinum extended losses to the third straight session, down 1.3 percent to $1,623.74. Spot palladium fell 1.3 percent to $727.72, after falling more than 3 percent in the previous session its sharpest daily decline in nearly four months.

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