Oil prices fell on Friday after the US central bank warned on the health of the global economy and bearish signs persisted that the world's biggest crude producers would keep pumping at high levels.
Gold fell close to its lowest level in eight months on Friday (July 17) pressured by a strong dollar and increasing bets on a Federal Reserve rate rise this year while platinum hit lows not seen in more than six years.
Gold stretched losses from the previous session on Tuesday as the dollar gained on expectations the US Federal Reserve was on course to increase interest rates this year.
Fed Chair Janet Yellen may provide more signals of a loomin
The Federal Reserve on Wednesday is expected to lay the groundwork for its first interest rate hike in nearly a decade, as it continues to weigh whether the US recovery can hold up against collapsing oil prices and a soaring dollar.
Gold fell to its lowest level in 7-1/2 months on Thursday on a strong dollar and as tensions in Ukraine appeared to ease, failing to benefit from weaker shares after an unexpected rise in US jobless claims.
Spot gold slipped 0.7 p
Gold steadied after two days of losses on Wednesday but held below $1,300 an ounce, near a four-week low, on a stronger dollar and fears that the Federal Reserve could hike US interest rates sooner than expected.
Fed Chair Janet Y
Gold fell around one percent in thin trade on Thursday, a day after the US Federal Reserve announced a further cut in its stimulus programme and reiterated its confidence in the US economic outlook despite weak first-quarter growth.
The Federal Reserve has looked past a dismal reading on first quarter US. growth and gave a mostly upbeat assessment of the economy's prospects as it announced another cut in its massive bond-buying stimulus.
Ben Bernanke earned more in 40 minutes on Tuesday than he made all of last year as head of the US Federal Reserve.
Bernanke was paid at least $250,000 for his first public speaking engagement, in Abu Dhabi, since stepping down in
Federal Reserve Chair Janet Yellen said on Tuesday the US central bank was on track to keep reducing its policy stimulus, even as she acknowledged the labor market recovery was "far from complete."
In her first public co