Gold down in Asia

Gold ticked lower on Wednesday on a lack of physical buying and as investors waited to see if the US Federal Reserve sticks to its stimulus programme to spur the economy, which may boost the metal's appeal as a hedge against inflation. Gold fell $1.89 an ounce to $1,474.71 by 0602 GMT, with the market torn between hopes that the Fed will keep its current policy and daily outflows from exchange-traded funds, as investors cut their exposure.
"Accommodative policies are generally seen as supportive for gold, but as the events of the last few weeks have demonstrated, the precious metal does not always move in lockstep with simple expansion in money supply," said Edward Meir, a metals analyst at futures brokerage INTL FCStone. US gold futures for June delivery stood at $1,474.20 an ounce, up $2.10.