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Gold Drops for Third Straight Session on Fed’s Stimulus Signals

Gold futures declined for the third straight session on signs that Federal Reserve policy makers may end monthly purchases of U.S. debt this year.

The drop today followed the longest run of weekly declines since May 2004. On Jan. 3, minutes from the Fed showed $85 billion in monthly bond purchases, the third round of so-called quantitative easing, probably will end sometime in 2013. Gold gained 5.1 percent in September when the central bank announced the stimulus measures.