Gold slips

Gold slipped on Wednesday as the dollar strengthened amid speculation that the next US Federal Reserve chief may be a policy hawk.

US President Donald Trump has a pool of five candidates to choose from for the next chair of the Federal Reserve and is likely to announce his choice before going to Asia in early November, a source familiar with the situation said.

Current Fed Chair Janet Yellen, whose term expires in February, is one of the five candidates, the source said.

Spot gold was down 0.1 percent at $1,283.16 an ounce at 0800 GMT. It hit a one-week low of $1,281.31 on Tuesday.

US gold futures for December delivery were off 0.1 percent at $1,285 per ounce. The dollar edged higher as investors mulled the possibility of a likely hawkish Fed chair.

“All the rhetoric around that is that it's more hawkish... Just few surprises hitting the market there and helping the dollar regain footing and keeping yields very steady, so really putting gold under pressure,” a Hong Kong-based trader said.