• Gold prices have retreated to a near five-month low as investors brace for a widely expected US interest rate increase this week and look for clues about further rises from the Federal Reserve.
Spot gold fell 0.1 per cent to $US1,240.64 an ounce by 1.36 pm Tuesday EST (0536 Wednesday AEDT), after hitting its lowest since July 20 at $US1,235.92.
US gold futures for February delivery settled down $US5.20, or 0.4 per cent, at $US1,241.70 per ounce.
• Higher equity prices and an increased interest in crypto currencies, including bitcoin, have likely stolen the shine from gold lately, causing prices to break below the most recent trading range, said Josh Graves, senior commodities strategist at RJO Futures in Chicago.
"The path of least resistance is down on the FOMC meeting," Graves said of the metal's response to outgoing Fed Chair Janet Yellen's last meeting in charge. "We will likely see continued selling down to a psychological $US1,200 area before you see any recovery."
• Among other precious metals, silver dropped 0.3 per cent at $US15.66 an ounce.
Platinum fell for its eight straight session, down 0.9 per cent at $US876.60 an ounce, after earlier touching its lowest since February 2016 at $US868.80.
Palladium was unchanged at $US1,010 per ounce.
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