Gold prices extend losses;
Gold prices extended losses on Wednesday weighed by falling euro as Spain's borrowing cost reached to an unsustainable levels even as its banking sector totters, marred by bad loans and lack of fresh funding.
Gold may extend losses, after capping the biggest weekly drop in seven weeks, as weaker oil prices and a pledge by European Union leaders to avert a Greek default slashed the metal's appeal as a haven.Bullion for immediate delivery declined as much as 0.3 percent to $1,498.15 an ounce and was at $1,500.05 by 10:14 am in Singapore.