• Gold fell for a third straight session on Wednesday on pressure from the U.S. dollar's gains for much of the session and amid speculation that the next chair of the Federal Reserve could be a policy hawk.
• Spot gold was down 0.3 percent at $1,281.50 an ounce by 2:21 p.m. EDT (1821 GMT), having touched its lowest since Oct. 9 at $1,276.73.
• U.S. gold futures for December delivery settled down $3.20 or 0.3 percent, at $1,283 per ounce.
• The dollar rose to a 1-1/2-week high before turning lower as traders digested more details on U.S. President Donald Trump's tax overhaul.
• U.S. tax reform is expected to stimulate economic growth and inflation, as is therefore seen as negative for gold.
• "The key support level for gold is $1,275 ... and $1,260 (per ounce) more importantly," said Bill O'Neill, partner at Logic Advisors in Upper Saddle River, New Jersey, referring to the 100-day moving average and an October low.
• In other precious metals, silver was flat at $17 an ounce after touching its lowest in more than a week.
• Platinum slipped by 1 percent to $920.90 an ounce, while palladium eased 2.14 percent at $957.55 per ounce.
Reference: Reuters
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