ZOID RESEARCH 22-AUGUST-2014 : GOLD

Spot gold prices declined by around 1.16 percent on Thursday to its lowest in two months extending losses to a fifth consecutive session, as fears about an early interest rate hike by the U.S. Federal Reserve sparked a technical selloff after prices broke below a key support level.Prices declined further after minutes from the Fed's July meeting on Wednesday showed policymakers debated whether interest rates should be raised earlier given a surprisingly strong job market recovery. Yesterdays encouraging U.S. housing and jobs data also stirred economic optimism, pressuring gold.

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