Fed39;s September meeting minutes due at 1800 GMT
Gold hit its lowest since Sept. 20 in the last session
Analyst sees rangebound trading with limited downside rallies

Oct 9 Reuters Gold extended losses for a sixth straight session on Wednesday to hover near the twoweek lows hit the day before on lowered expectations of deeper rate cuts, as traders turned their focus to the Federal Reserve39;s meeting minutes and inflation data.

Spot gold fell about 0.2 to 2,617.79 per ounce by 1145 GMT, having touched its lowest level since Sept. 20 on Tuesday. U.S. gold futures for December delivery was steady at 2,636.20.

The precious metals sector seems somewhat disappointed after yesterday39;s meeting by China39;s National Development and Reform Commission, which reignited concerns about growth and demand from China in Q4. Also, gold is confronting the possibility of less aggressive rate cuts, Zain Vawda, market analyst at MarketPulse by OANDA, said.

Nonyielding bullion is considered a safe investment and thrives in a low interest rate environment.

China is the world39;s largest consumer of gold, although record high prices and worries about economy have dampened consumer sentiment. A rebound in gold prices to a record peak also dashed the Indian bullion industry39;s expectations of a lucrative festival season.

Even after the losses, gold prices are set for an over 25 rise this year after prices hit a record peak of 2,685.42 on Sept. 26.

The market is currently awaiting…