Bengaluru — Gold fell to a more than one-week low on Thursday, pressured by a stronger dollar, but worries over slowing global economic growth and the spectre of another US government shutdown kept the safe-haven metal above the key $1,300 level. Spot gold fell 0.2% to $1,303.64/oz by 3.41am GMT, after touching its lowest since January 29 at $1,302.84. Prices fell 0.7% in the previous session in their biggest one-day drop since January 18. US gold futures were down 0.5% at $1,307.30. A possible rate cut by the Australian central bank stokes global slowdown concerns and the dollar has gained on safe-haven interest, pulling down gold, said Ilya Spivak, a senior currency strategist with DailyFx. Australia’s central bank on Wednesday opened the door to a possible rate cut as it acknowledged growing economic risks in a remarkable shift from its long-standing tightening bias that sent the local dollar sliding. The dollar index, a gauge of its value versus six major peers, was hovering clo...
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