By: Reuters
Spot gold [XAU= 1769.29 
-12.00 (-0.67%) 
]edged down 0.1 percent to $1,779.59 an ounce by 0023 GMT, after losing 1.3 percent in the previous session.
Spot gold held steady on Thursday under the pressure of a rising dollar, after prices fell more than 1 percent in the previous session when the U.S. Federal Reserve decided to twist its balance sheet more heavily towards long-term securities.
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-12.00 (-0.67%) ]edged down 0.1 percent to $1,779.59 an ounce by 0023 GMT, after losing 1.3 percent in the previous session.U.S. gold [GCCV1 1775.40 -32.70 (-1.81%) ]fell as much as 1.5 percent in early hours to $1,781.3, tracking losses in spot gold. It traded down 1.4 percent to $1,783.10.
-32.70 (-1.81%) ]fell as much as 1.5 percent in early hours to $1,781.3, tracking losses in spot gold. It traded down 1.4 percent to $1,783.10. The U.S. Federal Reserve launched an effort to put more downward pressure on long-term interest rates and increase its support for housing.
Equities and commodities prices tumbled after the Fed announcement disappointed investors who had hoped for stronger stimulus measures.
Greece adopted yet more austerity measures on Wednesday to secure a bailout installment crucial to avoid running out of money next month, as the IMF warned that Europe's sovereign debt crisis risks tearing a giant hole in banks' capital.
U.S. existing home sales rose in August to their highest in five months as lower prices and rock-bottom interest rates drew more buyers into a still moribund market.
U.S. stocks suffered their worst drop in a month after the Federal Reserve said there were "significant downside risks" to the economy even as it took another stab at boosting growth.
U.S. stocks suffered their worst drop in a month after the Federal Reserve said there were "significant downside risks" to the economy even as it took another stab at boosting growth.
The dollar rose 0.6 percent against a basket of currencies [.DXY 77.90 
0.56 (+0.73%) ] on Thursday, buoyed by the appeal of higher short-term rates, after the Fed said it would shift its portfolio in favour of long-term bonds.
0.56 (+0.73%) ] on Thursday, buoyed by the appeal of higher short-term rates, after the Fed said it would shift its portfolio in favour of long-term bonds. Copyright 2011 Thomson Reuters. Click for restrictions.
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