 "Gold falls to over two weeks low on stimulus outlook")
Gold today declined to the lowest price in more than two weeks on speculation the Federal Reserve will curb stimulus as the US economy strengthens.
The gold slid 1.2% to 1,370.37 dollar an ounce. Prices fell to $1,367.75, the lowest level since May 23. Silver also dropped 1.2% to $21.67 an ounce.
Standard and Poor's lifted its outlook for the US AA+ credit rating yesterday to stable from negative, citing receding fiscal risks.
Prices slid 18% this year as an improving US economy increased speculation the Fed may scale back quantitative-easing measures that helped bullion cap a 12-year bull run in 2012.
Holdings in exchange-traded products fell 6.1 tonnes to 2,129.8 tonnes yesterday, the lowest since April 2011.
The gold slid 1.2% to 1,370.37 dollar an ounce. Prices fell to $1,367.75, the lowest level since May 23. Silver also dropped 1.2% to $21.67 an ounce.
Standard and Poor's lifted its outlook for the US AA+ credit rating yesterday to stable from negative, citing receding fiscal risks.
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Federal Reserve Chairman Ben Bernanke said last month the central bank could curtail its $85 billion monthly bond purchases if the economy improves. Chinese markets remain closed today and tomorrow for holidays.
Prices slid 18% this year as an improving US economy increased speculation the Fed may scale back quantitative-easing measures that helped bullion cap a 12-year bull run in 2012.
Holdings in exchange-traded products fell 6.1 tonnes to 2,129.8 tonnes yesterday, the lowest since April 2011.