KONTAN.CO.ID - JAKARTA. Gold prices slipped as much as 1.7% on Monday, weighed down by fears that the U.S. Federal Reserve may provide a path for tapering its expansive monetary policy at its two-day meeting this week. Spot gold fell 0.7% to $1,864.36 per ounce by 10:18 a.m. EDT (1418 GMT) after hitting its lowest since May 17 at $1,848.49. U.S. gold futures dropped 0.6% to $1,868.00. Phillip Streible, chief market strategist at Blue Line Futures in Chicago, said there could have been some liquidation in gold ahead of the Fed's policy meeting, which begins on Tuesday.
Gold slides as much 1.7% on fears of U.S. Fed taper hints
KONTAN.CO.ID - JAKARTA. Gold prices slipped as much as 1.7% on Monday, weighed down by fears that the U.S. Federal Reserve may provide a path for tapering its expansive monetary policy at its two-day meeting this week. Spot gold fell 0.7% to $1,864.36 per ounce by 10:18 a.m. EDT (1418 GMT) after hitting its lowest since May 17 at $1,848.49. U.S. gold futures dropped 0.6% to $1,868.00. Phillip Streible, chief market strategist at Blue Line Futures in Chicago, said there could have been some liquidation in gold ahead of the Fed's policy meeting, which begins on Tuesday.