Gold prices slightly down in Asia on FED rate hike prospectus
Gold prices edged down on Thursday as the dollar rose on expectations that the U.S. Federal Reserve might raise interest rates in December.
Several voting Federal Reserve policymakers judged a rate hike would be warranted "relatively soon" if the U.S. economy continued to strengthen but doubts on inflation remained, according to the minutes of the Fed's September policy meeting released on Wednesday.
The European Central Bank may discuss technical changes to its asset-buying scheme next week but a decision could be deferred until December when the bank will also decide whether to extend the scheme beyond March.
Oil prices down on OPEC output hike
Oil prices fell on Thursday after OPEC said its production had risen to the highest level in at least eight years and following reports of an increase in U.S. crude stockpiles.
OPEC on Wednesday reported its oil production climbed in September to the highest in at least eight years and raised its forecast for 2017 non-OPEC supply growth, pointing to a larger surplus next year despite the group's deal to cut output.
The producer cartel pumped 33.39 million barrels per day (bpd) last month, according to figures OPEC collects from secondary sources, up 220,000 bpd from August.
The American Petroleum Institute, a trade group, reported on Wednesday that U.S. crude inventories rose by 2.7 million barrels to 470.9 million barrels in the week to Oct. 7.