MTECHTIPS GOLD

MTECHTIPS:-GOLD

Gold fell for a third straight session on Thursday after U.S. Federal Reserve Chairman Ben Bernanke hinted at reducing an $85 billion bond-buying program that has increased the metal's appeal as a hedge against inflation. The metal hit a one-week high of $1,414.25 on Wednesday after Bernanke told Congress that the U.S. economy needs further traction before it scales back monetary stimulus. But the price slipped after he said a decision to cut back may come at one of the central bank's "next few meetings" if the economy looked set to maintain momentum. Outlook : With China’s PMI falling below 50, the commodity is likely to take a beating today as well.