Gold prices slip

Singapore

Gold prices slipped on Thursday after breaking a five-day losing streak in the previous session, as the dollar rose slightly and uncertain equity markets boosted the metal´s safe-haven appeal ahead of the U.S. Federal Reserve meeting next week.

Asian stocks wavered as investors grappled with the seemingly diminishing ability of major central banks to stimulate growth, while a tumble in crude oil prices added to the risk-aversion mood.

"While the market is predicting relatively low probability for September hike, they now seem to be more convinced that a December hike is highly probable," said NAB analyst Vyanne Lai.

"The market has been characterised by high volatility than few weeks before.

The general trend will be a downward one," said Lai, adding that prices would be below $1,300 by the end of this year and reach $1,100 by the end of next year.