Gold inches lower

Bengaluru

Gold inched lower on Wednesday to touch a one-week low, after suffering its biggest single-day loss in nearly a month in the previous session, on a firmer dollar.

The safe haven asset slid nearly 1 percent on Tuesday, its biggest single session percentage loss since Aug. 30, as investors viewed that Democrat Hillary Clinton had won the first U.S. president debate against Republican rival Donald Trump, boosting the appetite for riskier assets like equities.

Spot gold fell 0.2 percent to $1,324.71 an ounce by 0430 GMT on Wednesday, and touched a bottom of $1,324.35, the lowest since Sept. 21. U.S. gold futures eased 0.1 percent to $1,328.50 an ounce.

"Demand for gold as a safe haven has fallen, simply because Hillary has more or less trumped over Trump in the presidential debate," said OCBC Bank analyst Barnabas Gan. "Falling gold prices suggest that market watchers look at Hillary as a safer bet than Trump.