Gold Rises for First Time in Three Days as Dollar Drops
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Gold futures rose for the first time in three days as the dollar’s drop boosted demand for the metal as an alternative investment before the latest signals from the Federal Reserve on U.S. monetary stimulus.
The greenback weakened for the third straight day against the euro. Fed policy makers conclude a two-day meeting today. The central bank buys $85 billion a month of Treasury and mortgage debt. Chairman Ben S. Bernanke said in May that the pace of monthly purchases may be scaled back if the employment outlook shows sustained improvement.