LONDON: Gold slid lower on Wednesday, under pressure from a firmer dollar and a rally in equity markets but losses were capped by growing expectations that the US Federal Reserve will delay raising interest rates until next year.

Spot gold fell 0.3 percent to $1,142.90 an ounce by 1419 GMT, after earlier touching $1,152.90, its highest level since Sept. 24.

Meanwhile, silver gained 0.4 percent to $15.93, extending a three-day rally.

The metal rose to a 3-1/2-month session high of $16.08 a day earlier and has gained nearly 10 percent so far this month.

Platinum rose 0.7 percent to $940.25 after falling to a near seven-year low last week on fears that the Volkswagen emissions scandal could hurt demand for diesel cars, in which the metal is used for catalysts.

Palladium slid 1.5 percent, after rising near its highest level since June earlier in the day.

Gold prices were weakened by gains in global equities, triggered by higher crude oil prices and an upswing in emerging market currencies. “In general, riskier assets are doing well,” said Georgette Boele, FX and commodity strategist at ABN AMRO.

“The sentiment is positive, which means gold is a bit hurt.”

A stronger dollar also weighed on gold by making the metal more expensive for holders of other currencies.

But losses were pared by data that bolstered expectations the US central bank will delay raising rates until 2016.

American exports were hit by an ailing global economy in August and imports from China surged, which fueled the largest expansion of the US trade deficit in five months, data showed on Tuesday.