Gold Pressured by Fed Rate Uncertainty, China Woes hit Copper

Gold prices slipped further on Monday as uncertainty over the Federal Reserve's path of monetary tightening persisted, while copper prices fell on more manufacturing troubles in major importer China.

Spot gold prices fell 0.1% to $1,745.46 an ounce, while Gold futures dropped 0.2% to $1,759.90 an ounce by 20:33 ET (00:33 GMT).Prices had retreated last week as hawkish comments from several Fed officials suggested that the central bank was likely to commit to raising interest rates at a sharp clip to combat overheated inflation. Given that the comments came in the wake of data showing some softening in U.S. inflation, traders grew uncertain over how the Fed would tighten policy at its next meeting.

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