Gold fell on Tuesday as uncertainty over what the US Federal Reserve will do to stimulate growth prompted investors to take profits, even as a Fed statement showed the struggling economy might need help soon. The metal was pressured on Tuesday as top Fed officials downplayed the need for the US central bank to resume buying government debt again to boost the economy, a manoeuvre known as quantitative easing.
Gold was little changed after the Fed revealed minutes of its last policy-setting session in September, in which officials believed the struggling recovery might soon need more help.
Spot gold was trading down 0.3 percent at $1,349.30 an ounce at 3:00 pm EDT (1900 GMT). US gold futures for December delivery settled down $7.70 an ounce at $1,346.70. Silver slipped less than 0.1 percent to $23.30 an ounce, while platinum eased 0.3 percent at $1,678 an ounce. Palladium fell 1.2 percent to $578.50.