Gold falls on dollar, investors monitor China, Fed policy

26-Aug (Reuters) – Gold slipped one percent on Wednesday as the dollar gained and European shares recouped some of their losses, while investors closely monitored China’s efforts to support its economy.

Sentiment in the more industrial precious metals also deteriorated on worries about global growth. Silver fell nearly 3 percent to $14.26, its lowest since August 2009 and palladium, mainly used in emissions control systems for cars, trucks and other vehicles, touched a five-year low.

Spot gold was down 0.9 percent to $1,129.91 an ounce by 1212 GMT, on track for a third day of losses. The decline added to a 1.2 percent fall on Tuesday, its steepest since July 20, made as global stock markets rebounded.

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