Gold today extended a decline from a six- month high as speculation that the Federal Reserve will continue cutting stimulus curbed demand for the precious metal as a store of wealth.
Gold declined 0.3 per cent to USD 1,363.21 an ounce. It reached USD 1,392.22 yesterday, the highest since September 9. Silver also fell 0.6 per cent to USD 21.06 an ounce.
Gold advanced 13 per cent this year as turmoil in Ukraine and signs of slowing economic growth increased demand for haven assets.
Data released yesterday showed US industrial output rose in February by the most in six months. The Fed begins a two-day meeting today.