Gold price falls to near month-low on Syria deal

The gold price was losing sight of the $1,400 an ounce level on Tuesday falling to levels last seen mid-August, after a diplomatic deal on Syria saw safe-haven buyers exit the market.

By midday gold for delivery in December, the most active contract on the Comex in New York, was trading at $1,363 down 1.7% or $23 from Tuesday's close after the Syrian regime accepted a Russian proposal to place its chemical weapons under international control.

Gold gained 5.7% in August and briefly reach a three-month intra-day high of $1,434 on the 28th, but that momentum seems to have been mostly lost.

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