Gold struggles in Asia

02 Oct, 2014

Gold extended losses on Wednesday to trade near a nine-month low and looked likely to break below the key $1,200-an-ounce level, clobbered by a stronger dollar and lack of support from top buyer China. Spot gold slipped 0.2 percent to $1,205.90 an ounce by 0623 GMT, falling for the fourth straight session. It went as low as $1,204.40 in the previous session, its lowest since early January. The metal slid 6 percent in September, its sharpest monthly drop since June 2013, and also logged its first quarterly loss of the year.

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