GOLD OCT UPDATES

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Gold futures extended losses today with Asia equties also loosing sharply ahead of a much-awaited speech from U.S. Federal Reserve Chairman Ben Bernanke.
The losses contrasted with mild gains for Wall Street stocks Wednesday after the Federal Reserve's Beige Book reported gradual U.S. economic expansion. At the same time, data showed U.S. gross domestic product rose at a 1.7% annual rate in April-June, an upward revision of a prior estimate of 1.5%. 
Meanwhile, Brazil's central bank late Wednesday cut the country's benchmark interest rate by a half-percentage point to 7.5%, a record low. The government will release figures for second-quarter economic activity on Friday.
Gold futures on the COMEX division of the New York Mercantile Exchange are trading down $2.6 at $ 1658.1 per ounce. Investors are watching for signs of a new round of quantitative easing measures by the Federal Reserve, including the timing of and size of any asset-purchase program.
MCX October godl futures tumbled below Rs 30900 yesterday and may start today's session near Rs 30840 levels with support around Rs 30800 and Rs 30740 levels.
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