Gold dips to near 6-year low, under pressure from Fed

Gold extended earlier losses to hit its lowest level since early 2010 on Thursday, under pressure from expectations that the US Federal Reserve is on track to raise interest rates next month for the first time in nearly a decade.Spot gold breached technical support at its July’s low of US $1,077 an ounce, falling 1 per cent to US $1,074.26, the lowest since February 11, 2010. The metal was down 0.9% at US $1,075.85 an ounce by 2.23pm GMT. US gold futures for December delivery dropped $9.30 an ounce at US $1,075.80.Read More