Gold edged lower on Wednesday, extending a nearly 2 per cent tumble in the previous session, as the minutes of the US Federal Reserve's last policy meeting showed diminishing appetite for further monetary stimulus.
Expectations of another round of quantitative easing had boosted gold's appeal as a hedge against inflation and pushed prices to $1,790.30 in February, the highest level since last November.
Spot gold edged down 0.1 per cent to $1,642.60 an ounce by 0344 GMT, after posting its biggest one-day decline in three weeks. Prices dropped below $1,640 on Tuesday.
US gold dropped 1.7 per cent to $1,644.40, tracking weaker spot prices.
A firmer dollar, which hit a one-week high against a basket of currencies, also weighed on commodities priced in the greenback.
Platinum group metals held up relatively well during the sell-off on Tuesday, on strong US auto sales data.
Spot platinum was little changed at $1,634.74, and spot palladium inched down 0.1 per cent to $647.72.
Expectations of another round of quantitative easing had boosted gold's appeal as a hedge against inflation and pushed prices to $1,790.30 in February, the highest level since last November.
Spot gold edged down 0.1 per cent to $1,642.60 an ounce by 0344 GMT, after posting its biggest one-day decline in three weeks. Prices dropped below $1,640 on Tuesday.
US gold dropped 1.7 per cent to $1,644.40, tracking weaker spot prices.
A firmer dollar, which hit a one-week high against a basket of currencies, also weighed on commodities priced in the greenback.
Platinum group metals held up relatively well during the sell-off on Tuesday, on strong US auto sales data.
Spot platinum was little changed at $1,634.74, and spot palladium inched down 0.1 per cent to $647.72.
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