Gold Falls as Improving Sentiment Spurs Stimulus Bets
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Gold futures fell for the third time in four days as U.S. consumer confidence unexpectedly increased in July to the highest in six years, boosting speculation that the Federal Reserve may scale back monetary stimulus.
The Thomson Reuters/University of Michigan final index of consumer sentiment advanced to 85.1 in July. Economists in a Bloomberg survey forecast a drop to 84 from 84.1 in June. The Fed will start trimming debt purchases in September, another Bloomberg survey of analysts showed. Central bank policy makers start a two-day meeting on July 30.