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Gold Trades Little Changed After Fed Releases Policy Statement

Gold traded little changed after the Federal Reserve said it will maintain its $85 billion in monthly bond purchases while persistently low inflation could hamper the economic expansion.

“The committee recognizes that inflation persistently below its 2 percent objective could pose risks to economic performance,” the Federal Open Market Committee said today at the conclusion of a two-day meeting in Washington. Gold tumbled 22 percent this year as investors lost faith in the metal as a store of value as inflation failed to accelerated even after policy makers printed money on an unprecedented scale.