21.09.201708:15:00UTC+00Gold Plunges Below $1300 After Fed

Gold futures tumbled Thursday as the Federal Reserve hinted it will raise interest rates one more time in 2017.

Yesterday, the Fed kept its key interest rate unchanged but maintained their so-called 'dot plot' of rate projections for this year and next, strongly hinting at a December rate hike.

Also, the Fed said it will begin shrinking its bloated $4.5 trillion portfolio in October by allowing $10 billion in bonds to mature without replacing them.

Gold plunged $21 to $1295 an ounce, the lowest in more than a month. Silver lost 35 cents, or 2 percent, to $16.98.

The Labor Department's Jobless Claims for the week will be published at 8.30 am ET. Economists are looking for 303K, up from 284K in the prior week.

The Conference Board's Leading Indicators for August will be revealed at 10.00 am ET. The consensus is for a 0.2 percent rise, down from 0.3 percent in the prior week.