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Kontak Perkasa - Reuters, (10/10), Singapore
- Gold dropped close to $1,300 an ounce on Wednesday, as the dollar
bounced from an eight-month low and on signs the Federal Reserve may
trim its stimulus measures this year.
Spot gold had fallen 0.24 percent to $1,303.44 an ounce by 0014 GMT, after losing around 1 percent the session before.
The
Fed's shock decision last month not to reduce its support for the U.S.
economy was a 'relatively close call' for policymakers, according to
minutes of the meeting that also showed there was still broad support to
trim bond-buying this year.
Bullion's
safe-haven appeal dimmed as President Barack Obama launched a series of
White House meetings with lawmakers on Wednesday to search for a way to
end a government shutdown and raise the debt limit.
Gold
sales under the Central Bank Gold Agreement in the year to Sept. 26
were the lowest of any year since the first version of the pact came
into force in 1999, data from the World Gold Council showed.
Domestic
gold traders in India, struggling for supplies in the peak festival
season, may start getting the metal in the next two weeks under a new
import rule, where exporters get a priority on shipments, officials at
importing banks said.
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Written by: Kontak Perkasa Futures
PT.Kontak Perkasa Futures, Updated at: 9:36 AM
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