Gold fell 1% as the dollar rose before the Fed meeting

Gold fell 1% on Monday, hit two weeks and a half low, as the dollar strengthened, the US bond yields in the US Federal Reserve Board (FED / Fed) before the two-day meeting rose, the global stock record record highs, US stocks also hit highs.

The situation on the Korean peninsula is easing, reducing the demand for gold.

On September 8, gold touched a 13-month high of $ 1,357.54. On Friday, US data showed hedge funds and other speculators raised their gold net long positions for the ninth consecutive week.

"There are a lot of speculative bubbles in the gold market that seem to have weakened," said Carsten Fritsch, an analyst at German commercial bank, in a telephone interview. "The Fed's rate hike is expected to support the price adjustment from the price."

1805 GMT, spot gold fell 1.04% to $ 1,305.46 an ounce, the most active US December gold futures fell $ 14.40, or 1.09%, to $ 1,310.8 an ounce.

Spot silver fell 2.63 percent to $ 17.117 an ounce, while platinum fell 0.99 percent at $ 954.5 an ounce and palladium rose 1.42 percent at $ 936.1 an ounce.

The dollar rose to an eight-week high against the yen as investors increased the bet on the Fed's rate hike in December.

Tuesday and Wednesday the Fed officials held a meeting, investors expect the Fed will announce the beginning of the table, which should support the dollar, to suppress the dollar-denominated gold.

Global stock markets are booming, but gold stocks fell sharply. US debt yields rose.