Gold Declines as Comments From Fed Officials Fuel Rate Concerns
- ETP flows show indecision as holdings fluctuate for six days
- A Fed move ``may well be closer than expected,'' analyst says
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Gold futures fell for the second time in three sessions as comments from some Federal Reserve officials fueled concern that the central bank may raise interest rates this year.
Three policy makers argued for lifting the Fed’s key rate before year-end, days after a September increase was rejected amid financial-market volatility and concern about an economic slowdown in China. Tighter monetary policy curbs demand for gold because it doesn’t pay interest, unlike competing assets.