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Gold Extends Losses In Asian Trading

The price of gold was extending losses in Asian trading Wednesday amid a firm U.S. dollar.

Gold for April delivery, the most actively traded contract, lost $20.90 to $1,673.30 an ounce. Yesterday, gold closed lower for a second session as investors remained cautious ahead of the Federal Reserve policy meeting outcome. Markets also weighed in some positive economic data from both the U.S. and Europe, while the dollar strengthened against the euro and a basket of six major currencies.

Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, moved down to 1,293.27 tons from 1,293.68 tons.

by RTT Staff Writer

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