Gold Falls in London on Speculation Fed to Curb Stimulus
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Gold swung between gains and losses in New York before settling little changed as investors weighed signs that the Federal Reserve will curb stimulus this month against the possibility of U.S. air strikes on Syria.
While gold futures rose 1 percent on Sept. 6 after data showed U.S. employers added fewer jobs than estimated in August, the report wasn’t enough to derail economists’ expectations that the Fed will pare stimulus measures. The central bank will taper monthly bond purchases to $75 billion from the current $85 billion pace at its Sept. 17-18 meeting, according to the median estimate of 34 economists surveyed by Bloomberg News on Sept. 6.