RTRS:Gold hits one-mth low as Fed decision lifts dollar
(Reuters) - The gold price fell by more than 1 percent on Thursday to its lowest in almost a month, after the Federal Reserve's decision to boost U.S. growth by including longer-dated debt in its asset portfolio pushed the dollar to its highest in seven months against a basket of currencies.
Gold usually moves inversely to the U.S. currency, as the strength of the dollar can deter non-U.S. bullion buyers who find it more expensive to buy the metal, although this correlation has broken down and been positive for most of this month.
Spot gold fell by as much as 1.3 percent to an intraday trough of $1,759.79/oz, its lowest since August 26, before trading down 1.0 percent at $1,762.89 by 0844 GMT.
(Reporting by Amanda Cooper; Editing by Alison Birrane)
