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Gold today declined to the lowest price in more than two weeks on speculation the Federal Reserve will curb stimulus as the US economy strengthens.
The gold slid 1.2% to 1,370.37 dollar an ounce. Prices fell to $1,367.75, the lowest level since May 23. Silver also dropped 1.2% to $21.67 an ounce.
Standard and Poor's lifted its outlook for the US AA+ credit rating yesterday to stable from negative, citing receding fiscal risks.
Federal Reserve Chairman Ben Bernanke said last month the central bank could curtail its $85 billion monthly bond purchases if the economy improves. Chinese markets remain closed today and tomorrow for holidays.
Prices slid 18% this year as an improving US economy increased speculation the Fed may scale back quantitative-easing measures that helped bullion cap a 12-year bull run in 2012.
Holdings in exchange-traded products fell 6.1 tonnes to 2,129.8 tonnes yesterday, the lowest since April 2011.
