Gold dips

Bengaluru :Gold prices nudged lower on Thursday, with investors taking profits after gains of nearly one percent in the previous session on weaker U.S. economic data and concerns among some Federal Reserve policymakers over lower inflation.
Many Fed policymakers expect that interest rates will have to be raised in the "near term", the minutes of the U.S. central bank´s last policy meeting showed on Wednesday. However, some members expressed concern over the inflation outlook and emphasized they would be looking at upcoming economic data before deciding the timing of future rate rises. Spot gold was down 0.2 percent at $1,290.05 per ounce by 0405 GMT. U.S. gold futures for December delivery edged down 0.2 percent to $1,289.80. "There appears to be a bit of profit taking.