Gold, Silver Futures Post Biggest Weekly Drops Since June
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Gold and silver futures posted the biggest weekly drops since June on speculation that the Federal Reserve will cut fiscal stimulus next week, while talks started on a plan for Syria to surrender its chemical weapons.
The Fed will decide to cut monthly purchases of Treasuries to $35 billion from $45 billion and keep mortgage-bond buying at $40 billion at its meeting starting Sept. 17, a Bloomberg survey showed. Gold reached a three-month high on Aug. 28 on concern that the U.S. would attack Syria.