ZOID RESEARCH 30-JULY-2014 : GOLD

Spot gold prices declined on Tuesday as investors nervously awaited the end of U.S. Federal Reserve's two-day policy meeting on Wednesday to see if the central bank will raise interest rates faster than expected. Last Thursday, bullion hit a five-week low below $1,300 an ounce on speculation that U.S. job gains so far this year could accelerate the need for higher interest rates. Fed Chair Janet Yellen said earlier this month the central bank might raise rates sooner than expected if labor growth remained robust. Traders and investors will also closely scrutinize Wednesday's FOMC statement for any change in the Fed's stimulus rollback. The central bank has typically cut $10 billion from its monthly bond buying program at each recent policy meeting.

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