Gold futures fall by 0.1% on global cues

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Gold futures seem to scared as the Fed’s September meeting comes near to the US central bank widely expected to begin the QE wind up. The most awaited Fed meeting is due on Wednesday 18th September where, Bernanke may announce that tapering will start later in the year, or may announce the cut immediately as widely expected. A cut to US$75bn from US$85bn per month is the popular expectation. Gold for December delivery is trading down $14.8 to $1,315.8 an ounce on the Comex division of the New York Mercantile Exchange. It tumbled $33.20, or 2.4%, to settle at $1,330.60 an ounce.