Gold Halts 3-Day Advance as Investors Await Fed Meeting
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Gold prices fell for the first time in four sessions as investors awaited signals on whether Federal Reserve policy makers will expand monetary stimulus as they start a two-day meeting today.
Forty-eight of 49 economists surveyed by Bloomberg predict the Federal Open Market Committee will purchase Treasuries to bolster an existing program to buy $40 billion in mortgage bonds each month. The panel pledged in October to continue that plan until the labor market improves “substantially.”