Gold Slumps Most in Four Weeks After Fed Sees No Need for Easing

Gold slumped the most in more than four weeks after minutes from the Federal Reserve’s latest policy meeting showed bankers may refrain from announcing further monetary stimulus unless economic growth slows.

The central bank is holding off on increasing monetary accommodation unless the U.S. economic expansion falters or prices rise at a slower rate than its 2 percent target, according to minutes of the March 13 meeting released today. Gold has surged almost 90 percent since the end of 2008 as the Fed held borrowing costs at a record low and bought $2.3 trillion in housing and government debt.