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Gold, Silver Tumble to Lowest Since September ’10 on Fed Outlook

Gold and silver futures fell to the lowest since September 2010 after the Federal Reserve said stimulus may be reduced later this year as the economy recovers.

Fed Chairman Ben S. Bernanke said yesterday that the central bank, which buys $85 billion of Treasury and mortgage debt each month, may begin reducing purchases this year and end the program in 2014 should the economy continue to improve. The dollar rose to the highest in more than a week against six major currencies and the 10-year yield on Treasuries reached a 22-month high. Commodities dropped.