Gold Falls on U.S. Stimulus Speculation; Palladium Jumps
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Gold fell, erasing gains after topping $1,400 an ounce, on signs that the Federal Reserve may curb U.S. monetary stimulus, eroding demand for the metal as a store of value. Palladium rose the most in six months.
Confidence among U.S. consumers climbed in May to the highest in more than five years, according to a New York-based private research group. In the 12 months through March, home prices rose by the most in seven years, a separate report showed. Holdings in global exchange-traded products backed by gold headed for the fifth straight monthly drop.