Gold price edges down on firmer dollar, investors await Fed

Mar 19 2014, 13:15 IST
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Spot gold fell 0.3 percent an ounce to $1,362.80 by 1120 GMT. Reuters Spot gold fell 0.3 percent an ounce to $1,362.80 by 1120 GMT. Reuters
SummaryGold prices edged lower, hovering below a six-month high hit in the previous session.

up a bit more recently, we have seen a better jobs report, so the case for tapering is reinforced and the big unknown tomorrow is the kind of wording that (Federal Reserve Chair) Janet Yellen will use," Hansen said.

The physical market saw some selling, with demand from top consumer China likely to be muted in coming weeks as domestic prices stayed at discounts to cash gold.

Premiums for gold bars in Hong Kong were unchanged at $1 an ounce versus the spot London prices.

In other precious metals, silver fell 0.6 percent to $21.01 an ounce. Platinum was down 0.7 percent to $1,449.00 an ounce and palladium lost 0.7 percent at $764.30 an ounce.

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