Bengaluru — Gold slipped to its lowest level in more than two weeks on Monday as equities rallied and the dollar firmed, while the prospect of monetary policy tightening in the US ahead of a Federal Reserve meeting also weighed on the metal. Spot gold was down 0.2% at $1,317.00/oz, as of 4.23am GMT. Earlier in the session, it hit $1,315.10, its lowest since August 31. US gold futures for December delivery fell 0.3% to $1,321.10/oz. "Further risk-taking appetite left gold prices in the dust," said OCBC analyst Barnabas Gan. Asian shares hit a decade high on Monday and the dollar held firm near a seven-week high against the yen, in the start to a week in which the Fed is likely to announce balance sheet tapering. The two-day Fed open market committee meeting, which begins on Tuesday, will be closely watched by markets as the US central bank is expected to announce balance sheet reduction in an effort to "normalise" monetary policy. "Gold prices also came under some selling pressure, w...
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