Gold Drops for Fourth Session Amid Concern U.S. May End Stimulus
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Gold declined for a fourth session on concern that the Federal Reserve will signal plans to end its third round of stimulus measures, easing demand for the precious metal as an inflation hedge.
The Fed tomorrow will release the minutes of its Jan. 29-30 meeting, which may indicate policy makers are targeting a halt to debt purchases known as quantitative easing. On Jan. 4, gold tumbled to the lowest since August after the minutes of the Dec. 11-12 meeting showed that members were divided between a mid- or end-of-year end to easing. Gold futures have dropped 4.3 percent this year as speculation grows that economies are improving.