Gold prices extended losses on Friday, falling 1.6 percent to their lowest since late August, after US Federal Reserve minutes indicated growing concerns over its monetary stimulus programme.
The Fed's stimulus measures, which maintain pressure on long-term interest rates while stoking fears over inflation, have been a major driver of higher gold prices in recent years. Spot gold was down 1.6 percent at USD 1,636.14 an ounce at 0958 GMT, having earlier touched a low of USD 1,634.79. U.S. gold futures for December delivery were down USD 37.60 an ounce, or 2.2 percent, at USD 1,637.00.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
